Latvian Prime Minister Evika Silina stated that the planned windfall tax for fuel traders will be "impressive," but it is still premature to name its specific size.
Speaking at a joint press conference with Latvian President Edgars Rinkēvičs, she emphasized that without such a tool, the end consumer may not receive the expected effect.
According to her, it is unacceptable for the state to lower the excise duty on fuel, effectively providing an additional benefit to the trader, while the consumer does not feel it.
The Prime Minister noted that the size of the tax is currently being discussed to ensure it is fair and proportional. She also explained that the planned mechanisms are being introduced for a short period.
As reported, on Tuesday the government conceptually agreed on possible solutions to stabilize fuel prices, including excise tax benefits and a mechanism to control windfall profits.
A decision on specific regulations is planned to be made at the next government meeting.
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