Polish budget can cope with PM’s ambitious spending plans: official

Marek Suski, head of Prime Minister Mateusz Morawiecki’s political cabinet, said the cost of the plans has not been calculated "to the zloty."

Suski added that government efforts to clamp down on VAT tax fraud and evasion had secured about PLN 40 billion (USD 11.9 bn, EUR 9.6 bn) over a year.

Speaking at a political convention in Warsaw on Saturday, Morawiecki said his conservative government would institute a slew of new measures to make life easier for businesspeople.

He announced a plan to cut corporate income tax (CIT) for small and medium-sized enterprises from 15 to 9 percent, which experts said would be the lowest rate in the European Union.

In addition to cutting taxes, the government would lower social insurance contributions for small businesses, Morawiecki said.

In another measure, the government will launch a PLN 23 billion (EUR 5.5 bn, USD 6.8 bn) plan, dubbed Accessibility Plus, to improve the living conditions of senior citizens, Morawiecki said.

He also said his government would inject some PLN 5 billion (EUR 1.2 bn, USD 1.5 bn) into efforts to renovate and build roads in local areas and would help finance the purchase of school supplies for children -- by offering parents a handout of PLN 300 for every child under the age of 18 before the start of each school year.

(pk)

Source: PAP