Poland Announces Tax Cuts Meant to Ease Soaring Inflation

Polish Prime Minister Mateusz Morawiecki on Tuesday announced a second round of sales tax cuts as part of the right-wing government’s efforts to fight inflation after it reached a 21-year high last month, the Associated Press reported. Morawiecki blamed surging consumer prices on high energy costs, saying they are the result of Russian gas prices and the European Union’s policy on greenhouse gas emissions. However, the head of the International Energy Agency has said a jump in demand for fossil fuels plays a bigger role, and opposition leaders have accused the ruling party of clinging to coal for too long. The prime minister said rebounding demand for goods since the depths of the coronavirus pandemic also contributed to the inflation spike. Read more.
Location