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Higher taxes 'toxic' for Hungarian economy - Orbán

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Prime Minister Viktor Orbán said higher taxes would be "toxic" for Hungary's export-oriented economy, commenting on an initiative to introduce a minimum corporate tax rate in a weekly interview on public radio on Friday.

"We earn our living by producing things cheaper, better, of higher quality, faster, with greater precision and with greater reliability than other production sites competing with us elsewhere in the world," Orbán said on Kossuth Rádió.

"Everything that reduces this ability, let's say Brussels burdening us with higher taxes, which we are protesting, ruins our competitiveness. We won't be able to sell our products, as they will cost more to produce, and if we can't sell our products, we'll have less money, and our standard of living will decline," he explained.

"It is in the national interest of Hungary not to accept externally imposed tax regulations," he said.

Orbán said a tax system that makes Hungary competitive is the "starting point" for the country's economic success.
 

    "Tax increases are toxic for the Hungarian economic system," he added.

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