The decision comes after a junior partner in the ruling coalition criticized the restrictions as an infringement of Poles' freedoms at the behest of "eurocrats" and the "banking lobby".
Under measures introduced as part of the government's flagship 'Polish Deal' tax reform program, from January 1, 2024, cash payments between businesses are supposed to be limited to PLN 8,000 (EUR 1,800), and payments by consumers to businesses to PLN 20,000 (EUR 4,500).
However, in April this year, Sovereign Poland (SP), a hard-right junior partner in Poland's national-conservative ruling coalition, submitted legislation to remove those planned limits.
"For the sake of freedom, security, and cultural identity, we propose to maintain the current status quo," said the party's Marcin Warhoł, who serves as deputy justice minister. Currently, business-to-business cash transactions are limited to PLN 15,000 and there is no limit on cash payments by consumers.
Warchoł cited central bank research indicating that over 18% of adults in Poland do not have electronic payment cards, a figure that rises to 48% among those aged over 65. "Restrictions on cash means social exclusion, financial exclusion," he argued.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
