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FinMin: no public sphere layoffs planned

Finance Ministry undersecretary Tamás Katona denied Saturday press reports that ministries' would have to lay off 10,000 people before the end of this year in accordance with his ministry's plans, news wire MTI reported. As Katona said, no such staff cuts are planned when next year's budget proposals are drawn up. Both daily Magyar Hírlap and the Magyar Nemzet carried reports of plans to lay off 10,000 public sector employees. The government recently announced plans to reduce taxes, including a 5 percentage-point cut in the top VAT rate next year, and said it would make up for the resulting Ft 200 billion revenue shortfall through reducing ministries' budgets.