You are here
Home > News > Polish economist warns cars will become a luxury good due to EU policies

Polish economist warns cars will become a luxury good due to EU policies

Speaking to Polish Radio 24, the economist, philosopher and publicist Tomasz Teluk has warned that the EU’s Fit for 55 package, which aims to by the year 2030 reduce carbon dioxide emissions by 55 percent compared to 1990 levels, could transform everyday goods such as cars and houses into luxury products.

“Soon, it will turn out that only few will be able to afford such goods as cars or houses, because the certification and ecological obligations imposed on producers will push the prices of these products to exorbitant levels,” the economist stated.

In July, the European Commission presented a package of regulations that are to facilitate the EU’s path to climate neutrality by 2050. As a first step, the “Fit for 55” package aims to cut the EU’s carbon dioxide emissions by 55 per cent from 1990 levels by 2030. The First Vice-President of the European Commission, Frans Timmermans is responsible for the legislation package presented.

“The package that aims to decarbonise the entire continent is a very radical proposal and it will bring very high costs for the economy,” said Tomasz Teluk.

In his opinion, “it will soon turn out that only a few will be able to afford such everyday goods as cars or houses, because the certification and ecological obligations imposed on manufacturers in the construction or automotive sectors will push the prices of these products to sky-high levels”.

The economist believes that the people will instead be encouraged to borrow, to share or use public transport. He also thinks that the general public will be told that they do not actually need property and that in the name of overriding good – the fight against climate change – people will have to give up other goods and accept whatever officials give them.

The cost of a permit to emit a ton of CO2 has more than doubled over the last year to around EUR 60. Together with the rise in gas prices and structural issues in Europe’s electricity market, the higher costs put on emissions have led to a significant increase in power prices. A situation which is expected to continue to deteriorate ahead of the heating season as winter nears.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Top