"7% of income" 7% of income: Daniel Getmantsev proposes forced sale of bonds to the public

The head of the Verkhovna Rada's committee on finance, tax, and customs policy proposes to discuss mandatory purchases of government bonds (OVGZ) by the public amounting to 7% of taxable income.

In the context of martial law, Daniil Getmantsev put forward the idea of forced placement of domestic government bonds among banks, legal entities, and individuals via Telegram. He believes it is essential to maintain attractive rates for these financial obligations.

“The weighted average yield of hryvnia OVGZ issued in October was 15.6%. This exceeds the projected devaluation and inflation. For the public, the investment attractiveness is even greater considering the absence of personal income tax on investment income and the military tax.”

Getmantsev references the experiences of countries that have gone through major wars. In his view, history shows that economic incentives alone are insufficient in such cases. He cites Israel, where in the 1970s “a number of mandatory savings schemes were introduced,” particularly a long-term compulsory military loan:

The people's deputy acknowledges that such decisions require political, public, and professional discussions. This system would only operate during wartime, with public investments directed solely towards military needs. Daniil Getmantsev notes that, concurrently, an analog of Ukraine's military tax also functioned in Israel.

“I also believe that state banks should transition to a specific format of mandatory purchases of military bonds based on individual plans that should be developed by the Ministry of Finance and the National Bank.”

Daniil Getmantsev emphasizes that he would not support such ideas in peacetime, but the war continues and its end remains uncertain. He announced ongoing efforts to find additional internal funding sources, primarily those "related to the demonetization of the economy and the fight against corruption." The committee chair stated that the revenue plan of the Tax Service has been exceeded by UAH 67 billion over the first ten months of this year.