Tax cuts to be part of 2nd economic protection plan, PM says

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Prime Minister Viktor Orbán on Friday said tax cuts would be a decisive element of a second package of measures the government plans to use to shield the economy from the impact of a slowdown on export markets in Western Europe, state news wire MTI reports.

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"I donʼt know how much room we have left for tax cuts, but I hope the [second] economic protection plan will be built on tax cuts," Mr Orbán said in a regular interview with the public broadcaster Kossuth Rádió.

Orbán noted that tax cuts the government has made so far have saved Hungarian businesses almost HUF 3,000 billion, much of which was spent on wages, creating demand and boosting consumption.

"I think the key is tax cuts," he said, commenting on the governmentʼs economic policy.

The government plans to roll out the next economic protection plan in the first quarter of 2020. Some elements of the first economic protection plan are already in place.

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