Government to increase tax credits for parents of more than one child

The coalition parties have agreed to increase tax credits for parents with more than one child. Next year parents will be able to deduct more from their tax returns for second and third children. While the Christian Democrats, who strongly back the change, want the credits to rise even further in future years, the minister of finance, Andrej Babiš of ANO, said it was only possible to discuss changes in the short term as it was impossible to predict how the economy would develop. At present parents get a monthly tax credit of over CZK 1,100 for every child; in 2014 there will be CZK 200 more for a second child and CZK 300 more for a third.