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Hungarian economy minister: Taxes to be cut in order to boost wages

Hungarian economy minister: Taxes to be cut in order to boost wages

The Hungarian government will reduce taxes by a total of 1,500 billion forints (EUR 4.8bn) in six years in order to boost wage growth in the country, Economy Minister Mihály Varga told daily Magyar Idők on Saturday. 

Instead of supporting illegal migration, Hungarian salaries and small enterprises need to be made more competitive, he said.

Many believe in the West that illegal migrants arriving from Africa, Asia and the Middle East could not only ease the labour shortage but also settle the demographic crisis.

However, recent years showed that supporting illegal migration leads to a dead-end and cannot solve problems, the minister said.

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The government wants to ease the labour shortage by supporting and involving Hungarian workforce and businesses, he said.

Varga noted spectacular achievements in reducing unemployment to around 4 percent, with nearly 800,000 more people holding jobs in Hungary than in 2010.

Read more news about HUNGARIAN TAXES

Photo: kormany.hu

Source: MTI

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