Budapest bourse asks government support
Thursday, July 7, 2005, 10:50
The Budapest Stock Exchange is asking Hungary's government to help increase the number of share sales and boost the activity of local investors, daily Vilaggazdasag reported, citing Attila Szalay-Berzeviczy, the bourse's chairman. Berzeviczy met Prime Minister Ferenc Gyurcsany yesterday and made proposals to counter effects of a new capital gains tax planned from 2007. The bourse is asking the government to provide subsidies and tax cuts for new listed companies and to include a stock-ownership plan in the pension system, Vilaggazdasag said. The Budapest bourse is controlled by a group of investors including HVB Group and the Vienna stock exchange. It is home to companies including Mol Rt., the biggest oil company in the 10 newest European Union countries and OTP Bank Rt., the largest lender in that region.