Varga excludes tax on bank deposits from economic policy tools

Banking

Hungary's government has never considered taxing bank deposits and has no wish to add similar instruments to its economic policy toolkit, National Economy Minister Mihály Varga said at an awards ceremony late Tuesday. Speaking at the Investor of the Year awards ceremony, Varga assured foreign companies that they could keep their money in Hungary and invest further. The Cypriot Parliament rejected on Tuesday a bailout plan that would have taxed ordinary bank deposits. News of the planned tax buffeted markets on Monday and Tuesday.

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