Central and Eastern European (CEE) countries are proposing radical tax incentives for young people, as part of a drive to stem the flow of skilled workers to Western EU states.
A so-called 'brain drain' is dimming the economic prospects of some CEE countries, with young people disproportionately making the most of the bloc's freedom of movement in search of better paid jobs.
From August 1, 2019, Polish citizens under the age of 26 who earn less than 85,528 zloty a year will no longer have to pay income tax.
It is "as if the entire city of Warsaw has left," he said, before describing the demographic decline as a "gigantic loss."To be sure, Polish citizens under the age of 26 who earn less than 85,528 zloty a year will now no longer have to pay income tax. However, analysts told CNBC they had strong doubts about whether such tax relief measures would prevent the drain of young workers.The fundamental problem is that while these popular stopgap measures are well-meaning, they ultimately "fail to address the root cause" of the brain drain phenomenon, Prianthi Roy, analyst at the Economist Intelligence Unit , told CNBC via telephone.
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