It appears Poland will join those countries which burden their banks with additional taxes, as Prime Minister Donald Tusk announced the government is preparing such a proposition.

Mr Tusk said the proposition would be “very well thought out” and that banks would be taxed in a way which would largely be unfelt by them and their customers. He made it a point to say Law and Justice's (PiS) idea of taxing banks in order to raise zł.7.1 billion was a bad idea.

“We will not tax transactions or plunder banks just because the opposition had such an idea,” the PM said.

PiS had argued that the government's proposed one percentage point value added tax hike, which was supposed to inject zł.5-5.5 billion into the state budget, would hurt Poles.

The PM has not revealed details about the tax. Already, the UK and Hungary have introduced such a tax, and France and Germany are among countries considering one of their own.

Poland AM