Opposition disputes pension cuts for early retirement

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The ruling Fidesz party said that retirement for men after 40 years of work would lead to pension cuts across the board, a prospect which radical nationalist Jobbik and the Socialist party, who are currently campaigning for the measure, refute, Hungarian news agency MTI reported this morning.

Jobbik lawmaker, János Volner, called on the government and the National Bank of Hungary (MNB) to "cutback on irresponsible luxury spending", that only serves to "satisfy the personal ambitions of governor György Matolcsy." He also said that Fidesz politicians are suffering from a "crisis of values" when the central bank can afford to spend HUF 160 bln on its foundation and not HUF 150 bln on menʼs early retirement.

Socialist lawmaker Nándor Gúr, suggested that menʼs early retirement could be paid for by whitening the economy, meaning reducing the countryʼs economic activity which is unrecorded and untaxed by the government from the current 18% to 16%. He says this would cost HUF 100-150 billion to implement, but could raise HUF 600 bln.

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