If 1 major company goes out of business, does it cause chaos?
High unemployment and lower tax revenue sounds like any moment the country could find itself in an economic depression.
In my local area this almost happened.
If 1 major company goes out of business, does it cause chaos?
High unemployment and lower tax revenue sounds like any moment the country could find itself in an economic depression.
In my local area this almost happened.
We are told of Utopia in Europe, but aren't told these stories.
Finland has a closed nickel mine which could become economical to operate once again since it also produces cobalt, which gets used in these types of batteries.
As for unemployment rate, 3.9%. Pretty close to the UK, USA, China.
As for tax, on $100K USD, you'd be taxed 28.3% on your income, and 15% on your consumption via GST.
In Finland the tax rate for $100K USD would be 41.3% on average. The common consumption tax is 24% (VAT). On top of that, certain goods like alcohol, gas, cars, could have additional goods specific tax that could be well over 100%.
Unemployment stands at I think 6.6%.