The Workers' Front party (RF) said on Monday there was big inequality in financial assets in Croatia, with central bank data showing that 1.7% of the richest hold over 43% of savings in banks, which is why it will move the progressive taxation of the richest.

When the RF was elected to parliament in 2020, it obtained data which the central bank collected in 2014 and which show that 1.7% of the richest hold over 43% of savings in banks, the opposition party’s MP Katarina Peovic told a press conference.

On the other hand, 1.2 million people had only €60 in their bank accounts and 2.3 million had €1,050, while 115 of the richest each had over €3.3 million and €947 million in total, she said.

The annual publication of data according to which an average Croatian has €17,800 in their bank account serves to obfuscate the real situation, Peovic added.

RF member Hrvoje Stefan, an economist, said the party will send a set of proposals to the government aimed at progressively taxing the richest with a synthetic tax on wealth, including on financial and non-financial assets, and a progressive inheritance tax.

In that way, the richest would contribute much more to the financing of social needs, while the majority will lower incomes and less assets would be relieved, the RF said, adding that the tax reforms to date mostly benefited the rich minority.