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Public finance package in view

State Audit Office prepared its proposal to amend the constitution with a section to govern public finances.

According to the proposal the budget should be always on a yearly base (no two-year budgets possible). The proposal also says that financial backing of new public tasks should always be integrated in the annual budget. The zero balance of the budget should be a constitutional requirement from which the government could differ only in case of emergency.

The proposal would allow to broaden the tax base by including activities additionally to income and property. At the same time government and opposition parties in Parliament are trying to reach an agreement on budget issues. There is a general agreement on rules of procedure and on the establishment of a new budgetary control body. The issue of local government credits, however, was taken of the package due to difference in opinions. (Napi Gazdaság)