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Gov't rolls out retraining subsidies

Government

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The government will launch a subsidy equivalent to 100% of payroll taxes to cover retraining costs of businesses that hire jobseekers under the age of 30 with a vocational certification from November 1, state secretary for employment policy Sándor Bodó said in a statement issued by the Innovation and Technology Ministry on Tuesday.

The subsidy, capped at payroll taxes on gross monthly salary of HUF 438,000, or double the minimum monthly wage for skilled workers, will be available for a period of three months. Businesses with headcount of up to 10 may apply for subsidies for at most two new hires. Companies with a higher headcount may apply for subsidies covering up to 30% of payroll tax on salaries up to HUF 438,000.

Bodó noted that businesses may avail of subsidies in the existing Support for Business Workforce scheme covering half of payroll taxes, up to HUF 100,000 a month, for those same new hires for a further six months, bringing the total period of eligibility for subsidies to nine months.

Subsidies of some HUF 14 billion have been paid out for over 25,000 jobseekers in the framework of the Support for Business Workforce scheme, he added.

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