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Hungary financial transaction tax would be no more than 0.1%

A tax on financial transactions the government is mulling could be no more than one-thousandth of the amount, Prime Minister Viktor Orbán said on public radio early Friday.

Orbán said the government was "a long way" from taking a final decision on the introduction of the tax. He added that taxes should be changed mid-year only if absolutely necessary, which was not the case at present.

Orbán said the 2013 budget would "very likely" reduce taxes on labor while transferring the burden rather to consumption and turnover.