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

shutterstock

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.

Image: Shutterstock.com

“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.

EU

Gulyás: Hungary to Seek Compensation for Border Protection Costs From EU

Appointments

Special Effects Ltd. Appoints Fresh CEO

Automotive

DHL Doubles Electric Van Fleet in Budapest

EU

Bóka: Competitive EU Impossible Without Competitive Member States

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For over 30 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.