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Inflation in Poland. Reduction in excise duty on fuels and electricity – Prime Minister Mateusz Morawiecki on the anti-inflation shield

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On Tuesday, the government adopted a bill assuming the abolition of the excise tax on electricity and a reduction in the VAT rate on natural gas and a maximum reduction in the excise tax on fuel, Prime Minister Mateusz Morawiecki announced. The anti-inflationary shield is to protect Polish families, said the head of government.

It is about a draft act amending the act on excise duty and the act on tax on retail sales. The project is part of the so-called anti-inflationary shield.

– We are lowering the VAT rate on natural gas from 23 to 8 percent. This is a large cost for the budget, a significant reduction in budget revenues, but a very important benefit for citizens who heat their houses, apartments or workplaces with gas, said Prime Minister Mateusz Morawiecki at the press conference after the government meeting.

– We are completely abolishing the excise duty on electricity and lowering the VAT rate on electricity from 23 percent to 8 percent. It is also a significant reduction in budget revenues and will leave hundreds of millions in the pockets of our citizens, he added.

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Fuel prices

Another point is the maximum reduction in excise duty on fuel. – This is our next step in order to reduce the cost of household budgets – stressed the Prime Minister.

– Our action consists, on the one hand, of a significant reduction in budget revenues, and therefore – lowering the price of gasoline by reducing excise duty, lowering the emission fee to zero for a period of five months, until the end of May next year, and at the same time we do not include fuels in the trade tax which at the same time causes the fuel price to be reduced by another dozen or so groszy – said Morawiecki.

– All these actions together will lead to a reduction of the fuel price by 20, up to 25 cents, and optimists say that even by 30 cents. We will see, I prefer to be a moderate optimist, said the Prime Minister.

Inflation in Poland

The Central Statistical Office on Tuesday reported preliminary inflation data for November this year. According to estimates, this month’s year-on-year increase in prices was 7.7 percent. This is the highest level since December 2000, when inflation was 8.5 percent year on year. The preliminary data of the Central Statistical Office show that, inter alia, fuel for private means of transport went up by 36.6 percent annually.

Main photo source: tvn24



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