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The governing Social Democrats are considering a major shift in their tax policy. They say they would like to reduce income taxes. What are their plans and what does the opposition think?

The state-run tourist authority predicts that the number of foreigners visiting the Czech Republic will jump another 10 percent this year, on top of the 15 percent rise noted in 2003, the first year after the "hundred-year" floods that swept through Central Europe and nearly dealt a knock-out blow to the industry.

Industrial production figures met with disappointment; President Klaus expected to rename Tuma as CNB governor; Securities commission places Sati brokerage under forced administration; Kiekert of Germany to invest $26m in auto plant; Ranks of the unemployed swell, number of entrepreneurs down; Czech Rep shows world's fourth-highest growth in high-speed Internet connections.

Some New Year's Day sales left consumers holding the bag -- an empty bag, that is -- with complaints of "false advertising" by superstores and hypermarkets as precious few of the heavily promoted sales items were actually in stock. The Czech Commercial Inspectorate has launched a natiowide investigation and a move to strengthen the consumer protection law is under consideration.

Nine companies interested in Cesky Telecom; Czech budget deficit sharply lower than expected in 2004; Czech Republic posts first November trade surplus in 10 years; Deadlock in collective bargaining at Ceske Drahy; Scottish IT firm to build repair centre in Prague; One million fewer people work in industry, agriculture than in 1989

This week on Business Report, we take a look back at some of the most important events of the year.

Slovakia must pay 19.4bn crowns to CSOB; CEZ board members charged with circumventing public tender law; Regional authorities to get more in tax revenues as of 2006; Vitkovice Steel privatisation schedule to be set in January; Internet growth in Czech Rep 'fourth fastest' in the world

EU wants Czechs to give up 'golden shares'; State budget for 2005 signed into law; Eurotel ordered to pay 48m crown fine; Eurotel ordered to pay 48m crown fine; Record-high Czech beer exports in 2004

Budejovicky Budvar, the only major brewery still in the hands of the Czech state, has been locked in a lengthy battle with the world's largest brewer — Anheuser-Busch of the U.S. — over the Budweiser name for nearly a hundred years.

2005 budget approved at deficit of over 80bn crowns; Current account deficit up in October; Electricity and gas markets set to liberalise; Orco Property group to list shares on Prague bourse; Subsistence level allocation raised; cuts in welfare still planned