Pre government adopted a draft budget prepared by the Ministry of Finance in early September. The Finance Ministry announced on Monday that on Wednesday, “do not expect major changes when it comes to macroeconomic parameters of the budget and the basic size” of the project budget. Prime Minister’s Office said on Wednesday that the finally adopted the draft is not made major changes.
In developing the project, the Ministry of Finance has established that GDP growth in 2015. Would be in real terms 3.4 percent., And the average inflation – 1.2 percent. It is envisaged that the deficit next year is not to exceed 46 billion 80 million zł. State budget revenues planned in the amount of 297 billion 252 million 925 thousand. zł, (against 277 billion zł 782.2 million planned for the current year), and spending 343 billion 332 million 925 thousand. zł. (Compared to 325 billion zł 287.4 million provided this year.)
The most important change in the system, the effects of which will impact both on next year’s state revenues from income and household budgets, is to increase by 20 percent. education tax credit for the third and subsequent child. This change is also possible to use the full amount of relief to those who previously showed too little tax to fully settle it.
The significant tax changes that will affect the state budget in 2015. Included a change rules for deducting VAT on cars and others with a total weight up to 3.5 tonnes, and other expenses associated with these vehicles. These changes were introduced in 2014., The fact that some will apply from 1 July 2015.
The impact on the budget will also have a planned reduction in the excise tax on motor fuels, depending on the type of fuel, respectively 25 zł / 1000 liters or 25 zł / 1000 kg. This change involves simultaneously with the increase in fuel duty rates for different fuels with the same values.
It is important on the expenditure side of the budget will be announced by the former Prime Minister Donald Tusk indexation of pensions by a factor of 101.08 percent., along with a guaranteed increase in not less than 36 zł. The government has once again decided to freeze the wage bill in the public sector.
According to the constitution, the government must ultimately submit the draft to the Parliament by the end of September. Parliament can work on the budget four months, the fact that the Senate has to present its amendments 20 days of the submission of the bill by the Parliament. If within four months from the date of submission of the draft budget to the Sejm, the bill is presented to the President for signature, he may within 14 days of order shortening the term of office of the Sejm.
The president has seven days to sign the budget bill; it can also – before signing it – ask the Constitutional Court on the compatibility with the Constitution of the budget. Court must rule on the matter within two months.
– the draft budget for 2015 is realistic, as the budget for the previous year. You can not see it risks that could result in the need for the amendment in the course of execution. It is worth recalling that we expressed a different opinion on the draft budget for 2013. Then pointed out that the macroeconomic assumptions adopted overly optimistic. This was the most the rate of inflation, which is the traditional budget “airbag” assumed for the underestimation of future tax revenues, but also the projected growth rates of GDP and an even greater extent in the labor market. Now predictions are quite realistic – says Jacek Adamski, an adviser to the board of the Confederation Leviathan.
More info: budget, the budget for 2015. deficit
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