Orbán said the “crisis tax” – the windfall tax on large energy telecoms and retail companies announced last week – is temporary and proportionate, adding that it does not place operational burdens on the sectors affected, nor does it jeopardise jobs.

He justified the measure by saying it is fair and reasonable that those who have large profits take on additional burdens in the second stage of the crisis.

Regarding the decision to transfer private pension fund contributions to the state from November 1, he criticised private funds as a typical example of how some have pushed ahead aggressively at the expense of public interests. Comparing private pensions to roulette, he said only state pensions can be guaranteed to maintain their purchasing power, as only the state can ride out an economic crisis.

A 16% flat tax to be introduced from 2011 means that those who earn ten times more will pay ten times more taxes and those who raise children will pay less tax, he said."

Source: Hungary Around the Clock.

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