Czech president Petr Pavel approves plan introducing budget cuts, taxes. Labour unions call for protests

Czech president Petr Pavel has signed an economic package into law, aimed at reducing the country's budget deficit. The package includes budget cuts and increased taxes, with Czechs expected to pay more taxes on alcoholic beverages and medicine. Businesses will also face higher corporate taxes. The government believes these measures will reduce the budget deficit by 97 billion Czech korunas ($4.3 billion) next year and by 150 billion Czech korunas ($6.7 billion) by 2025.