Finance Minister flirts with idea that lower taxes equals higher revenue

Finance Minister Grzegorz Kolodko said late on Saturday that his fiscal reform plans included a pro-growth tax rate cut, but he revealed few other details before a government meeting on Monday on the topic. Newspapers reported last week that Kolodko, seeking deep reforms in public finances before EU accession next year, was considering several plans, including one where tax rates were maintained but most tax breaks eliminated. Asked about the impact of the planned tax reform on the budget, Kolodko told Reuters, "Perhaps with lower taxes we can collect more...We want to simplify the tax system, lower tax rates, eliminate used-up loopholes and breaks, so that industry will grow along with propensity to save". (Reuters) A.Z.