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FinMin on property tax, forint band, housing subsidies

Finance Minister János Veres yesterday said the government has no plans to change the existing housing subsidy regime, to drop the forint's trading band or to scrap the introduction of a property tax.

The comments came in reaction to an IMF report published earlier this week which, among other things, suggested Hungary should do more to reduce deficits in health care, family support, housing subsidies and local governments, and reiterated its proposal to abandon the forint's trading band. „The IMF has proposed abandoning the currency band for the past three years but nothing came of it ever since. I believe the fate of this latest proposal will be the same" Veres commented. Speaking of the government's property tax plans, he said a proposal has already been drafted, which is currently under review by the cabinet. He also reminded that according to convergence program, the property tax would be introduced in 2008 and there are no plans to defer this date. (Gazdasági Rádió)