Raising taxes – first decision to be made at beginning of a full-scale war - Hetmantsev

Member of the Verkhovna Rada from the Servant of the People faction, head of the parliamentary committee on finance, tax and customs policy, Danylo Hetmantsev, is convinced that raising taxes is the main decision in the field of financing the army during a full-scale war, which had to be adopted at the very beginning.

He said this in an interview with the Ukrainian News agency.

"Increasing taxes is the number one decision that had to be made at the beginning of a full-scale war," said the MP.

Hetmantsev does not know of an opposite example in economic theory of raising taxes to cover defense expenditures under conditions comparable to the current ones.

According to him, the authorities avoided a decision on such an increase for two and a half years, and for the first year and a half, taxes were reduced.

"Now it cannot be avoided. What it will be, will it again not be dictated by the desire or unwillingness of the government or parliament, but by the needs to finance the army," he said about the current tax increase.

As the Ukrainian News agency earlier reported, the Verkhovna Rada intends to raise taxes and return 50% of the tax on excess profits of banks.