Morawiecki: New tax won't hurt banks

Deputy Prime Minister Mateusz Morawiecki told the media on Monday that the new banking tax will not hurt banks in Poland because of the large amount of capital they possess. He also emphasized that service fees charged by banks should not increase significantly due to the amount of competition in the industry. Asked about the consequences of the bank asset tax on TVP Info,  Morawiecki said that the level of capital and liquidity in the banks mean that he "[is] not worried about the stability of the sector."  He also acknowledged that banks have recently raised their markups, but indicated that it was not due to the new tax, but to counterbalance low earnings on deposits due to low interest rates. "The tax is only about to come into force, whereas the interest rates have been low for the last few months and years." he added.