'Slovakia' Party Calls for Tax on Refinery Windfall Profits

Bratislava, 22 October (TASR) – The opposition 'Slovakia' party is calling on the government to follow the example of the Czech Republic and Poland by taxing windfall profits made by refineries and using the proceeds to bring down high fuel prices. Party leaders said on Thursday that Prime Minister Robert Fico (Smer-SD) has failed to honour his election promises of cheaper fuel, while allowing Slovnaft to receive money that should remain in the pockets of Slovak people. "Before the election, Robert Fico promised cheaper fuel, lower taxes and the taxation of monopolies. Today, he claims nothing can be done. Yet neighbouring countries are showing that solutions do exist," said party vice-chair Julius Jakab. Jakab noted that Slovnaft's excess profits have been taxed in the past. "Poland and the Czech Republic are showing that refinery windfall profits can be taxed, raising funds to help people. I'm asking Robert Fico why it's possible elsewhere but not in Slovakia. Why can his government amend laws in other cases, but when hundreds of millions of euros could be used to help people, suddenly nothing can be done?" Jakab asked the prime minister. Party chair Igor Matovic said that the prime minister is allowing people's money to flow into the refinery's accounts. "Robert Fico is allowing money from the pockets of hundreds of thousands of people to flow into the accounts of Slovnaft's owners. This is in stark contradiction to what he promised before the election," stated. In mid-October, fuel prices in Slovakia were significantly higher than the year before. The average price of 95-octane petrol stood at €1.846 per litre, while diesel cost €1.919 per litre. Among the Visegrad Four (V4) countries (the Czech Republic, Hungary, Poland and Slovakia), Slovakia has the second-highest petrol prices after the Czech Republic. mf/df