Mr Michał Wawer, on behalf of the Confederate Parliamentary Club on the Around Budget Act, Parliament on 16 January 2024.
– We hear the PiS with the Platform bid on who makes a better gift bag from the budget bill. 3 billion here, 12 billion there, 10 billion there. Moved without any reflection, no reflection, no budget balance. And here 1 very crucial reservation must be made – you are all misleading Poles in this debate. due to the fact that the budget bill does not decision any money. Only liabilities shall be transferred.
All points in this Act only mention the transfer of State Treasury bonds. And Treasury bonds are not the same as real money. These bonds can only be exchanged for real money.
But first, the minute they're traded on the marketplace for real money, it's a loss. due to the fact that for individual to buy these bonds, they don't buy them as nominal values, they buy them at a percent of that nominal value. So all these institutions referred to in the budget law are already loss-making at the outset.
Secondly, the Polish State will gotta pay interest on these commitments. And this interest will be paid with capital for years. In this year's budget, as much as PLN 66 billion is planned to handle debt from erstwhile years. The capital repayment, the interest payment. These debt handling costs will increase at an avalanche rate in subsequent years. And that's what all experts, marketplace commentators, are talking about, is that in the next fewer years, this is going to be another tens of billions.
These are all bonds for very good purposes – wellness care, education, various investments in semiconductors – all these are very essential things. But, To do this right, we should balance the budget.. Those expenses that are unnecessary should be cutand truly specified expenses do not deficiency in this budget and in the plans of the ruling coalition. These unnecessary expenses should be cut off and left with real money. Those collected in taxes, which are at the real disposal of the government. This money is for these purposes. Not to make the money that the government doesn't have yet, which it has yet to take off the market. Pretend that these debts are real money and spend them on the expense of future generations.
Because that's what it looks like in practice. The current government at the expense of future generations finances its promises, needs. He's financing these things by doing it in specified a way that the minute this debt spiral gets worse, erstwhile the public debt service costs increase even more erstwhile they scope 80, 100, 150 billion in the following years, it's going to happen that There won't be any money for any of this in a fewer years! There's no money for wellness care. No money for education. There will be no money shortly and no army. For all those most needed, vitally necessary, for the functioning of the Polish state, things.
Because today, at the expense of future generations, you can't halt yourself from handing out. Before outbiding the absurd policy of the PiS even more absurd policy of the Platform. Not counting entirely on the fact that in a few, respective years the Polish state may face bankruptcy. That in a few, respective years this model will not be able to be maintained, due to the fact that no 1 will want to lend money to the Polish state. And the repayment of debt from erstwhile years alone will absorb immense money, leaving no budget space for anything else. ...
