Financial transactions duty can "probably not" be extended to central bank, Matolcsy says

Initiatives

A planned duty on financial transactions can "probably not" be extended to the National Bank of Hungary (MNB), but the revenue base for the government's workplace protection plan will remain stable, National Economy Minister György Matolcsy told a parliamentary committee on Monday.

Matolcsy said the government would seek acceptance of the plan from the International Monetary Fund and the European Union too.

The government said earlier that resources for the workplace protection plan, which will launch at the beginning of next year, are expected to come from the financial transactions duty.

Matolcsy told the committee the government aims to raise the number of tax-paying jobs in Hungary by 1.5 million to more than 5 million by 2020. He added that the government wants to see at least 300,000-400,000 participants in the state's public work program next year and to raise this number from year to year.

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