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PM Babiš does U-turn on bank tax

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Prime Minister Andrej Babis (ANO) told television host Vaclav Moravec, on his show on Czech Television, on Sunday that a proposed bank tax, presented by his coalition partner, the Social Democrats, is nonsense.

Instead, Babis would prefer to see a special fund created, where banks could deposit 10 to 20% of their dividend payouts and the money could be collectively used to boost investment in the country.

Last week, Babis had said it was possible a bank tax could be proposed. ODS Chairman Petr Fiala who was on the show with Babis, suggested that Babis was just posturing, with empty words.

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