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What Slovakia is writing about: Kamenický ready to sacrifice even the transaction tax for the budget's sake. The coalition majority is creaking, and the referendum is forecast weak turnout

What Slovakia is writing about: Kamenický ready to sacrifice even the transaction tax for the budget's sake. The coalition majority is creaking, and the referendum is forecast weak turnout

Slovak politics is entering the last week before the summer break with a dominant behind-the-scenes topic — the 2027 state budget, which Finance Minister Ladislav Kamenický (Smer-SD) himself called the "toughest." Over the weekend he hardened his stance, saying that a budget provisorium is out of the question and that he is willing to "sacrifice" even the transaction tax, which his government introduced only last year, for the sake of a coalition agreement. Looming over the negotiations is a fragile government majority, speculation about the replacement of Deputy Prime Minister Tomáš Taraba, and the approaching Saturday referendum, which polls forecast will see weak turnout.

The toughest budget and the transaction tax "on the altar"

Over the weekend, Kamenický spoke to several media outlets with one message: next year's budget must pass, even at the cost of compromises. According to him, a budget provisorium "is not an option" SITA ↗, and he wants to close the agreement during the summer Pravda ↗. What drew the most attention was his willingness to yield on the transaction tax — he told Štandard that it is not a "sacred cow" and that he would allow it to be adjusted if the shortfall, in the order of hundreds of millions of euros, is made up elsewhere Štandard ↗. He also indicated to SME's economic desk that he would prefer not to link the budget's approval with a vote of confidence in the government SME ↗. From within his own ranks, Smer MP Ján Richter added a social guardrail — according to him, the budget must preserve "living standards and the social standard" SITA ↗.

A fragile majority and Taraba's chair

The second major thread of the weekend is the stability of the coalition itself. Ján Richter (Smer) openly admitted that he believes Deputy Prime Minister Tomáš Taraba (SNS nominee) will be replaced, and warned of a "fragile majority" in parliament HN ↗ SME ↗. Meanwhile, SNS is pushing its own agenda — Roman Michelko announced changes to electoral rules, including preferential voting and postal voting, though he ultimately conceded room for compromise Pravda ↗ TASR ↗. Smer is choosing a more cautious tone — its MP Tibor Gašpar claims that the "fight for voters" within the coalition has already begun and that some of the partners' proposals are inconsistent with the budget, aiming primarily at Andrej Danko. According to Gašpar, it is precisely SNS's slide below five percent in the polls that is spurring its chairman toward "senseless steps" HN ↗ Štandard ↗.

A referendum in the shadow of weak turnout

On Saturday, July 4, a referendum will be held on abolishing the lifelong pension of constitutional officials and on restoring the abolished Office of the Special Prosecutor and NAKA [National Criminal Agency]. A fresh Ipsos survey for Denník N, however, suggests that only about a quarter of voters plan to take part — well below the fifty-percent quorum required for validity Denník N ↗. It's worth recalling that of the nine referendums held since the republic's independence, only one was valid STVR ↗. In parallel, a debate has emerged about another referendum, demanded by the opposition, on early elections. Here the newsrooms turned to political scientists: Juraj Marušiak used the words "chaos" and "manipulation" to describe it Nový Čas ↗, another warned that it would "threaten the stability of governance" HN ↗, and Branislav Dolný called it an "element of partisan struggle" that parties use for mobilization TASR ↗. The political scientists consulted thus describe the debate as part of pre-election mobilization — it is mainly the opposition that is currently calling for a referendum on early elections, while the coalition frames it as a recipe for instability.

Šimečka versus Gašpar — a duel full of mutual accusations

The last pre-summer clash on STVR's O 5 minút 12 pitted Smer MP Tibor Gašpar against Progresívne Slovensko leader Michal Šimečka. Pravda turned it into a "fierce war over nepotism and freeloaders" Pravda ↗. Substantively, they parted ways over the thirteenth pension — Gašpar defended it as the government's "flagship," while Šimečka wants it to be more targeted and income-linked interez ↗. The most symbolically pointed moment came when Gašpar defended Robert Fico over his verbal attack on a journalist Aktuality ↗. On the other hand, they agreed on one thing — after the murder of a woman in Gelnica, both admitted that criminal legislation protecting victims of violence needs to change TASR ↗.

Under the radar

Beyond the main headlines, several other things happened. SME's morning briefing claims that the coalition failed in its attempt to gain influence over the trade unions and that a "breakthrough" has occurred in the judicial case surrounding the cooperating witnesses [kajúcnici] SME ↗. Trend examined the criticism of the appellate ruling in the case of former Special Prosecutor Dušan Kováčik, showing what holds up and what doesn't Trend ↗. And the culture war spilled across borders — when Czech Culture Minister Oto Klempíř and Deputy Prime Minister Petr Macinka (both from Motoristé) were loudly booed at a folklore festival in Strážnice, Denník N summed it up with the fitting headline "As Šimkovičová, so Klempíř" Denník N ↗. SME's weekly Dezinfomaják, meanwhile, captured a new wave of conspiracy theories about wind turbines and the return of doctor Igor Bukovský to STVR broadcasting SME ↗.

What hotinfo is watching

  • Saturday, July 4 — actual turnout in the referendum on the pension and the restoration of the Office of the Special Prosecutor and NAKA. If the Ipsos figures are confirmed and turnout falls to around a quarter of voters, this will add another invalid referendum to the tally.
  • Summer — whether Kamenický manages to deliver the promised coalition agreement on the 2027 budget, and in what form the transaction tax survives it.
  • Tomáš Taraba's chair — whether Richter's prediction of his replacement comes true, or whether SNS calms the dispute.
  • Autumn — the fate of changes to electoral rules (preferential voting, postal voting) pushed by SNS.
  • The cooperating-witness cases and Kováčik — how the "breakthrough" flagged by SME and the criticism of the appellate ruling translate into further court decisions.

On Record

Tomáš Taraba
Tomáš Taraba Minister životného prostredia SR
25.08.2026
„Ja 15. septembra určite neodstúpim."

Reakcia na tlak SNS, ktorá cez šéfa poslaneckého klubu Romana Michelka hovorila o jeho odchode z envirorezortu k tomuto dátumu.

Roman Michelko
Roman Michelko Predseda poslaneckého klubu SNS
25.08.2026
„Na presadení zákona o zrušení voľby poštou má eminentný záujem najmä Smer, takže premiér, ktorý je zo Smeru, má určite nejaké páky na ministra športu Rudolfa Huliaka."

O novej požiadavke SNS znížiť počet krúžkov zo štyroch na dva, ktorou strana podmieňuje podporu zrušenia voľby poštou.

Ladislav Kamenický
Ladislav Kamenický Minister financií SR
24.08.2026
„Transakčná daň pre mňa nie je posvätná krava. Ak by na nej mal stáť rozpočet, som ochotný ju obetovať. Ale musí byť vykompenzovaná fiškálnymi opatreniami."

Minister financií krátko pred premiérovým oznámením, keď potvrdil, že koalícia o transakčnej dani diskutuje. Diskusiu vtedy označil za nafúknutú vec.

Geographic locations

Location: Slovakia
Politics (General) Slovakia 👤 andrej danko 👤 ján richter 👤 ladislav kamenický 👤 roman michelko 👤 tibor gašpar 👤 tomáš taraba 📍 slovensko
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