Turkish govt delays tax plan to fund defence industry | News

Turkish govt delays tax plan to fund defence industry | News

The Turkish government on Tuesday postponed until 2025 a parliamentary debate on a proposed tax on credit cards, which it sought to fund the arms industry as conflict rages in its neighbourhood.

Indignant Turks, who already face double-digit inflation, called their banks to lower their credit limits after the governing AKP party submitted the tax bill to parliament on Friday.

After the public outcry, the AKP announced Tuesday that it was delaying debating the bill until next year.

“There were certain objections from our citizens, we will examine all of this in detail,” said the AKP’s parliamentary group chairman, Abdullah Guler.

“We have postponed our discussions and we will reconsider, after the budget, if there are some points to change or remove,” he said.

The proposed legislation came as Israel’s conflicts with Tehran-backed Islamist militants in Gaza and Lebanon, and missile strikes by Iran, have raised global concerns that a broader war could erupt in the Middle East.

“Our country has no choice but to increase its deterrent power. There’s war in our region right now. We are in a troubled neighbourhood,” Finance Minister Mehmet Simsek told private broadcaster NTV earlier on Tuesday. 

– Weapons boost –

– ‘Disguise the economic crisis’ –

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