In connection with the submission of subsequent amendments, the Bill to support borrowers will be discussed again in the finance committee. MEPs want, among other things, liquidation of the so-called Belka tax or extension of credit holidays.
On Wednesday evening, the Sejm hosted the second reading of the bill on crowdfunding for economic enterprises and aid to borrowers. Among other things, the project offers the possibility to take advantage of credit holidays by people with debts in PLN. They can request four months of credit holidays this year (two months in Q3 and Q4 2022 and one month in each quarter of 2023).
During the second reading debate, MPs from opposition clubs and circles tabled further amendments to the bill.
Daria Gosek-Popiołek (left) suggested that a larger group of borrowers could take advantage of the Borrower Support Fund. Jacek Protasiewicz of the Polish Coalition has made changes aimed at reducing the margin for lending banks to zero, which would reduce monthly payments by several hundred zlotys. Another amendment was based on the abolition of the so-called Balken tax. Paulina Hennig-Kloska (Poland 2050) in turn tabled an amendment so that borrowers in the most difficult situation should be entitled to holidays of up to 10 percent. the duration of the loan agreement.
Representatives of opposition clubs generally criticized the government’s solutions as inadequate. In addition, they pointed out that the MPC decided on Wednesday to raise interest rates again, which will lead to a further increase in loan repayments.
Deputy Finance Minister Piotr Patkowski explained that the new regulations have three pillars. First of all, it’s about “already relief” in the form of credit vacations for all borrowers, without labeling them. Secondly, it concerns adjustments to the Borrower Support Fund so that more people in need can benefit from it. Patkowski added that it is gaining interest. The third pillar – as the Deputy Minister said – is an important system change, which will help not only now but also in the future. It is about indicating a replacement for the WIBOR indicator.
Patkowski added that the ministry is also encouraging commercial banks to raise interest rates on bank deposits. He pointed out that the two state-owned banks “have significantly raised interest rates on deposits”.
On Wednesday, the Parliamentary Finance Committee approved the PiS amendment, which aims to extend the operation of the anti-inflation shields until October 31. As Deputy Finance Minister Piotr Patkowski explained, this amendment aims to “extend the solutions of anti-inflation shields in terms of excise, VAT, retail tax, fuels, energy carriers and fertilizers”.
As part of the anti-inflationary shields, which are currently in effect until July 31, a lower VAT rate will be applied to fuels (8 percent instead of 23 percent), and the VAT rate on electricity and heat is 5 percent. and the rate of this gas tax is 0%. In addition, there is also the application of the zero rate to basic foodstuffs, fertilizers and selected agricultural inputs. In addition, the reduction in excise duty on electricity, the exemption from excise duty on electricity for households, the reduction in excise duty on certain motor fuels and the temporary exemption from business tax on the sale of the aforementioned electricity have recently been extended to 31 July. fuels. A reduction in excise duty on light fuel oil was also introduced.
In addition to solutions related to assistance to borrowers, the project also assumes the approximation of Polish regulations to EU solutions related to the operation of crowdfunding platforms, ie platforms serving crowdfunding for business enterprises. The activities of crowdfunding platforms are regulated and supervised by the Polish Financial Supervision Authority.
The proposed amendment will benefit small and medium-sized enterprises, especially start-ups. Limits are being set for them, allowing them to acquire more capital, for example for investments. (DAD)
author: Michał Boroń
mic / sleep /