Czechs to spend a maximum 30% of their income on housing costs

Czech government will use a state aid scheme to ensure that the population will not spend more than 30% (35% in Prague) of their income on housing costs, including energy, Prime Minister Petr Fiala announced.

According to Reuters, the housing contribution will complement the amount of CZK 66 billion that the Executive wants to share in the form of a subsidized energy price during the cold season.

In the Czech Republic energy was one of the main drivers of inflation. In July, the inflation rate rose to 17.5%, the highest level in the last three decades.

Czech government is working to tax the exceptional profit of energy companies and banks, which could bring billions of euros to the budget next year, to offset the additional costs of social spending.

Czechia is almost 100% dependent on Russian gas, but internal gas storages are more than 80% full.

SEE ALSO: Czechia could stop using coal for electricity production in 2038

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