Finance Minister promises no tax hikes, but corporate tax to fall by 4%

Finance Minister Marek Belka pledged that taxes would not increase next year, but admitted that the budget deficit would exceed the initial forecast of zl. 40 billion. Budgetary spending is to remain within the zl. 192.5 billion limit, i.e. this year's expenditure increased by the rate of i nflation plus one percentage point. However, Belka would not disclose the budget revenue forecast for next year, although he admitted that the Finance Ministry's prediction is very conservative resulting in a higher than initially-expected deficit. He also confirmed that the corporate income tax rate would be lowered from 28% to 24%, in line with the reductions est ablished a few years ago. The excise tax on electricity would remain at the same level of zl. 0.02 per 1 kWh. (Prawo i Gospodarka, p. 8) T.J.