The Polish government wants to amend the constitution so that it can increase the country’s defense spending and seize the assets of Russian leaders after Moscow’s invasion of Ukraine, a government spokesman said today.
The Homeland Defense bill passed this month states that Poland’s defense spending will increase to 3% of its GDP, which means it may exceed the fiscal limit set by the Constitution.
“The Polish army must immediately be equipped to the highest standards. Consequently, one of the proposed changes to the Constitution will be the exclusion of military and armaments expenditures from the budget debt limit,” said Peter Müller.
He pointed out that the second issue for which the Constitution will need to be amended is the possible confiscation of the assets of Russian oligarchs and companies that support the Russian invasion of Ukraine. The money could then be used for humanitarian aid, Mueller said.
At the same time, the Polish government wants to impose additional taxes on companies that continue to operate in Russia.
“Discussions have begun on these issues and we hope that these proposals will be adopted. We are open to talks,” Mueller said.
In order to amend the Constitution, a two-thirds majority is needed in the lower house of the Polish parliament and an absolute majority in the opposition-dominated Senate, so the government’s proposals must be supported by other political parties.
SOURCE: AMPE
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
