Hungary EcoMin-Elect Unveils More Tax Cut Details
- 6 May 2010 3:00 AM
"Hungary’s new government, to be formulated by centre-right Fidesz, knows how to respond to a new possible crisis wave, Economy Minister-designate György Matolcsy said on Thursday. He also revealed further details about his party’s tax reduction plans, saying the tax burden in Hungary needs to be cut by a third over the next three years.
Speaking to public radio MR1 Matolcsy said they would strive to keep the budget deficit at around 5-6% of GDP this year (against the official target of 3.8%) which would run much higher without the pro-growth policies Fidesz plans to pursue. As for the party’s repeatedly heralded tax reductions, Matolcsy said the local tax burden needs to be lowered by a third over the past three years."
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