25 Nov

Poland to cut taxes to soften inflation blow, says PM

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Reuters. FILE PHOTO: People visit a shopping centre, which was reopened after the coronavirus disease (COVID-19) restrictions were eased in Gdansk, Poland, February 1, 2021. Bartosz Banka/Agencja Gazeta via REUTERS

WARSAW (Reuters) - Poland will cut taxes on petrol, gas and electricity and provide cash payments to households in a programme worth up to 10 billion zlotys ($2.40 billion) designed to help Poles deal with high inflation, the prime minister said on Thursday.

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Inflation in emerging Europe's largest economy has hit levels not seen in two decades. This has strained household budgets and caused headaches for a government that takes pride in its record of boosting the spending power of ordinary Poles with generous social benefits and increases in the minimum wage.

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The Polish government is acting to... soften, buffer against this growth in inflation, Mateusz Morawiecki told a news conference.

Tax on petrol will be lowered to the minimum allowed by the European Union for five months starting on Dec. 20, he said.

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