Economy minister: Families enjoy hundreds of billions of forints of tax breaks

In the first five months of the year, around 100 billion forints (EUR 325m) stayed in the pockets of families in the form of tax breaks, and by the end of the year this sum is expected to be 280 billion, the economy minister said in an interview to Friday’s issue of Magyar Idők.

Mihály Varga said that “in the left-liberal government’s final year, the state left altogether 13 billion forints in the form of tax breaks with around 100,000 families.”

Today 1.1 million Hungarian families with children enjoy tax breaks amounting to almost 280 billion forints, he noted, adding that next year this figure will rise for families with two children and two parents in legal employment, and altogether 310 billion forints will stay with families.

Varga also said that the average wage was expected to rise by 10 percent this year, followed by further marked pay rises in 2018. Never since the 1989-90 change in political system have so many people had a job in Hungary, he added.

Source: MTI