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Putin`s Population Drive – Tax Breaks for More Babies

Putin`s Population Drive - Tax Breaks for More Babies

We often hear about the lack of children and a growing concern of not having a replacement population in Russia. Mr Putin is now addressing the issue. The Russian President has promised tax breaks, mortgage relief and hard cash to support Russian families who choose to have more children. He wants to increase the population of his country while at the same time turning it more Christian. Note that since Communism fell in 1991, former President Yeltsin and current President Putin, together built 25,000 Christian churches across Russia. Still, the family plan seems to be the one that Mr Putin is putting on the table for discussion.

“The principle should be very simple – the more children you have the less tax you should pay,” said Putin. He went on to say that he wanted to remove 5 square meters of taxable area from a family`s property for every new child. Families with three or more children would also get a tax break of 450,000 rubles ($6,840) to pay for mortgages. The view is that the benefits would apply to 600,000 homes. He also pointed out that he would put an end to childcare at nurseries by 2021.

This announcement comes on the back of a similar announcement by the PM of Hungary, Victor Orban who announced that he was offered tax breaks to families that delivered more children to the nation state. One part of the plan would allow no tax payments for live for women having 4 children.

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