WARSAW, Poland (AP) — Poland’s Prime Minister Mateusz Morawiecki said Thursday that starting in December the government will cut tax on fuels and on energy and will offer bonuses to hardest hit households next year to counter inflation that has reached its highest level since 2001.
Morawiecki said that the so-called “anti-inflation shield” will cost the government some 10 billion zlotys ($2.4 billion) while additional funds will come from spending cuts.
He blamed the inflation, which was 6.8% in October, year-on-year, on higher energy costs, saying they stem from Russia’s gas policy, the European Union's climate policy and CO2 emission certificate prices, as well as on bonuses that were paid out to help businesses survive the COVID-19 pandemic. Prices have risen on foods, fuels and energy.
“We are offering a large reduction of tax, in order to cushion the effects of the inflation,” Morawiecki said.
He said inflation may still rise in the cold winter winter months of December-March.
On Dec. 20, excise tax on fuels will be cut to 0% for five months to lower prices that have skyrocketed to record levels. VAT and excise tax on gas and energy will be reduced, starting in January.
Some 5 million households are to receive payments of between 400-1,150 zlotys ( $96-275.)
Morawiecki said that Poland also will seek a change on the EU's policy regulating trade in so-called green certificates of carbon emission rights, within the bloc's climate policy.7 Virtual Reality Stocks That Can Deliver Very Real Profits
Are you ready for the metaverse? Yeah, I’m not either. But many people are enjoying living their life in a virtual world. However, virtual reality and augmented reality goes beyond the world of video games. The applications for this technology include remote assistance, training, and education.
And like e-commerce, this was a sector that experienced significant growth during the Covid-19 pandemic. Necessity frequently inspires new ways of thinking and so it is that millions of Americans had to figure out how to do things remotely.
But what you want to know as a prospective investor is whether there’s more growth in store. Fortune Business Insights reports that the global market for VR gaming will reach $45.2 billion by 2027. That’s up from $5.1 billion in 2019 and $17 billion in 2020. That comes out to a compound annual growth rate (CAGR) of 31.8%. That should get your attention. It’s certainly drawn the attention of many of the tech giants. Many of the FAANG stocks are investing in this market with the expectation of massive future growth.
If you’re looking to invest in this growing sector, we’ve put together this special presentation that highlights seven virtual reality stocks that, while they dabble in the virtual world can deliver real profits for your portfolio.
View the "7 Virtual Reality Stocks That Can Deliver Very Real Profits"