Szczurek: Swiss-franc aid could cost budget billions
PR dla Zagranicy
Roberto Galea
19.08.2015 17:58
The Financial Stability Committee (KSF) has negatively assessed the draft law on the aid for Polish Swiss franc mortgage holders in its current form.
Finance Minister Mateusz Szczurek. Photo: PAP/Paweł Supernak
It also found that it constitutes a threat to the stability of the financial sector in Poland, said the Finance Minister and Chairman of the KSF, Mateusz Szczurek, following Wednesday's meeting of the Committee.
As the KSF pointed out, the proposed law is a threat, among others, because the borrowers are treated unequally, depending on the currency of the debt, resulting in lower revenues from corporate income tax and reduced bank lending.
"The entry into force of the law as adopted by Parliament on 5 August carries with it a threat to the stability of the financial sector in Poland," Mateusz Szczurek said on Wednesday.
The Committee assessed that the conversion and redemption of loans could cost the state budget up to PLN 3.5 billion in losses to banks in the form of corporate tax and dividends. "This will mean that these costs will be borne by all taxpayers," Minister Szczurek added.
The introduction of an aid package for Swiss franc mortgage holders is a major component of the campaign of the opposition Law and Justice (PiS) party ahead of the 25 October general election. (rg/rk)