LMP aims to separate public money from offshore companies with bill resubmission

History

After resubmitting a bill for a third time, which seeks to put a clear divide between offshore companies and public money, leaders of the Green Party LMP spoke at length about the necessity of this bill, during a press conference yesterday, Hungarian news agency MTI reported.

LMP co-leader, András Schiffer, said that the role of offshoring, in the outflow of Hungarian money is "immense", citing that the equivalent of two and a half times the Hungarian government debt being diverted to tax havens is "a serious cancer on the Hungarian economy."

He believes that companies with unclear ownership should be forbidden from transacting with state or municipal companies, and that the ban against civil servants, government officials and politicians owning offshore companies should extend to government consultants and the prime minister.

Bernadett Szél, LMPʼs other co-leader, remarked that because so much money had been “pumped out so shamelessly” over the past five years, significant resources are now missing from health care, education and the social sector.

She also targeted Hollywood producer Andy Vajna, currently the governmentʼs film commissioner, as having conflicted interests, in as much that he has a casino and other business interests in Hungary, saying "this man has no place being near public money." Earlier reports suggested that Vajna allegedly built his empire by transferring profits from his Casino concessions and most funds acquired in Hungary to an offshore company.



ADVERTISEMENT

17% of homeowners plan renovations this year Analysis

17% of homeowners plan renovations this year

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.