Polish president signs fuel windfall tax and urges immediate price cuts
President Karol Nawrocki signed a law taxing excess profits of fuel companies and sent it to the Constitutional Tribunal, while promising that fuel prices will drop immediately.
Karol Nawrocki, acting as president, approved a statute that introduces a tax on extraordinary earnings of companies operating in the fuel sector and referred the measure to the Constitutional Tribunal for review, allowing it to be applied while its legality is examined. The law was published in the official journal on Thursday evening. Finance Minister Andrzej Domański indicated that fuel prices at stations could be lower by roughly 1.2-1.3 zł per litre during the upcoming weekend.
Jarosław Kaczyński, leader of PiS, said the administration possesses all necessary tools to lower prices immediately, even suggesting a price of 5.19 zł per litre, and dismissed the stories promoted by Donald Tusk. In his address, Nawrocki declared he would end the practice of treating Poles as political hostages, refused to let the government finance what he called a financial disaster with citizens' money, and promised that price cuts should take effect at once to meet election-campaign promises.
Why it matters
The tax and promised price cuts could quickly affect fuel costs for Polish consumers and test the government's fiscal tools.
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