Budapest, August 24 (MTI) – Hungary’s economy calls for comprehensive cuts in taxes and social security contributions, the deputy leader of Jobbik told a press conference on Wednesday.

Dániel Z Kárpát criticised the government’s plans to reduce the VAT, and suggested that the cuts would not counterbalance an expected increase in the price of basic food products due partly to labour shortage. The government needs to intervene so that people can retain their jobs and food prices do not weigh on families, he insisted. He added that the budget offers room to reduce the VAT on food and articles for children.

Related article: THE PROPOSED PAYROLL TAX REDUCTIONS AND THEIR POSSIBLE IMPLICATIONS

Unless social security contributions are reduced, Hungarian companies cannot compete with multinationals, Z Kárpát said.

“The government is obliged to help players in the Hungarian market,” he insisted.

UPDATE

The ruling Fidesz party dismissed Jobbik’s proposals saying that Jobbik’s “words and deeds do not correspond”. While Jobbik advocates tax cuts, it has invariably declined to support measures that have ensured economic growth and tax reductions so far, Fidesz said in a statement.

According to the statement, the government’s motto was tax cuts, and the cabinet was committed to “reducing the burden on families with children, employers, and companies”.

Source: MTI

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