11 November 2009, 14:44
Volodymyr Lytvyn, Chairman of The Verkhovna Rada of Ukraine, calls for strengthening the Financial Basis of the Local Budgets, expanding the Sources of Revenue and regulating Expenditures
The larger part of collected taxes shall remain in the local budgets, stated V.Lytvyn on Wednesday, meeting the residents of Zorynsk town (Luhansk region). "70% of gained funds shall remain in the local budgets, while 30% shall be forwarded to the State budget to settle the national issues", - he stated.
The Head of the Parliament reminded that a new version of the Budget Code envisaged such order. However, it was vetoed by the President of Ukraine.
To form local and central budgets, V.Lytvyn deems necessary "to determine the amount of funds required by a village, township or city, the rest funds being forwarded to the capital". However, "under the present-day procedure, the budget funds are collected to the center, being further reallocated".
The Chairman of The Verkhovna Rada of Ukraine is scheduled to visit Luhansk machine-building plant and meet its personnel.