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Taxes. Andrzej Domański, Minister of Finance, on increasing the tax-free amount to PLN 60,000

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The increase in the tax-free amount to PLN 60,000 will come into force by the end of the term, said Minister of Finance Andrzej Domański in “Rozmowa Piaseckiego”. – The Prime Minister (Donald Tusk – ed.) obliged me to present a plan on how to reach this amount and, of course, I will present such a plan to the Prime Minister. We are fulfilling our specific obligations – assured the head of the Ministry of Finance.

Ministry of Finance on Monday, it published the White Book of Public Finances, showing their status at the end of 2023. The ministry emphasized that “the first corrective actions have already been taken, but the scale of irregularities, omissions and errors is so large that repairing Polish finances will take at least several years.”

– This is not sad news, it is an objective look at the state of public finances at the end of 2023. We show some challenges that the public finance sector faces, we show a number of negligences that have been made in recent years and we also show how we want to repair this system step by step, gradually – said Minister of Finance Andrzej Domański.

The guest of “Rozmowa Piaseckiego” on TVN24 noted that some of the information about the condition of public finances “is completely new.” – The level of complexity of the public finance system is very interesting and requires far-reaching and quick actions. Currently, we spend 80 percent of state expenditure outside the budget, i.e. outside parliamentary control, outside the control of journalists. In my opinion, this is something that needs to end, he emphasized.

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Minister of Finance on increasing the tax-free amount

However, the head of the Ministry of Finance assured that the government will not give up on fulfilling its election promises.

– The Civic Coalition and the new government are implementing their election promises step by step. We do it responsibly – we have increased salaries for teachers by 30 percent and for the broadly understood budget sector by 20 percent. We are fulfilling our key promises and will continue to fulfill them in the coming years. At the same time, we show, among others, in the White Paper (…), what challenges the public finance sector faces – explained Domański.

The Minister of Finance was asked about the announcement of increasing the tax-free allowance to PLN 60,000. zloty.

– Prime Minister (Donald Tusk – ed.) obliged me to present a plan on how to reach this amount and, of course, I will present such a plan to the Prime Minister. We are fulfilling our specific commitments from the election campaign and what was written in the coalition agreement, he assured.

In his opinion, the promise will be fulfilled “by the end of the term.”

– Tax and contribution burdens increased during the government PiS – we showed it in the White Paper – contrary to what PiS said. When they took over power, the ratio of contributions and taxes to GDP, it was 32 percent, at the peak it was 37 (percent). We see that for many Poles this tax cut and higher tax-free allowance are absolutely justified – explained the guest of “Piasecki's Interview”.

In its election program, i.e. “100 specifics for the first 100 days of government”, the Civic Coalition announced an increase in tax-free amount – “from PLN 30,000 to PLN 60,000, in the case of taxpayers settling according to the tax scale, including entrepreneurs and retirees.”

Economic growth and inflation

Andrzej Domański drew attention to the importance of economic growth. – For me this is very important (…). Without economic growth, repairing public finances after eight years of PiS rule will be much more difficult, he said.

Government forecasts show that GDP growth will accelerate to 3.7% in 2025. –

The growth rate is accelerating. For 2025, we forecast a growth of 3.7%. For now, the growth rate is based only on the private consumption engine, but soon public investments supported by funds from the KPO will start (National Reconstruction Plan), as well as private investments – indicated the Minister of Finance.

Domański said that inflation it may further accelerate to 5-6 percent. year to year, but there will no longer be double-digit readings.

Main photo source: TVN24

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