Orbán’s announcement: govt to protect utility cuts, cut excess profits
Prime Minister Viktor Orbán announced setting up a “utility cut protection fund” and a defence fund on Wednesday.
In a video published on Facebook, the prime minister said
banks, insurance companies, large distribution chains, energy and trading companies, telecommunications companies and airlines would be obliged to pay “a large part of their excess profits” into those two funds.
The new funds will finance the government’s public utility cut programme and development projects for the military, Orbán said. He added that the new measures would apply for 2022 and 2023.
Orbán noted the government’s commitment to protecting “families, pensioners, jobs and utility cuts even in a protracted war situation”.
He added that the protracted war and the EU’s sanction policy, which “shows no improvement”, would together result in “drastic price hikes”.
While the utility cut programme provides protection to families, that protection is “ever harder and more expensive to maintain” in light of increasing energy prices, he said.
Orbán said the military should be reinforced with no delay.
Meanwhile, he said, banks and international companies earned excessive profits through higher interest rates and prices.
“We are asking and expecting those that make excess profits in this situation of war to help people and contribute to the country’s defence spending,”
he said. He added that the government would publish detailed figures on Thursday.
Read alsoHungarian forint plunges ahead of Orbán’s announcements
Source: MTI
1 Comment
YOU may in HOPE – Mr Prime Minister – Victor Orban / Hungary – its present Government – but you will – to a high degree of RIGHT – be told by numerious company operations which includes foreign car manufacturers Mercedes Benz B.M.W & “others” that employ thousands of Hungarians in there workforce – that compliance to your HOPE – for additional funding for there bottom line balance sheets – to Government “supposed” needs – will not be DISTRIBUTED to the Hungarian Government.
Acts & conduct numerous by this Government – it’s CONTROL – we continue to witness are not by CORE values of a Democracy.
Prime Minister – Victor Orban – continues to widen the European Union conflict with Hungary and this HOPE – is another BLATANT decision & action that will cause anger, division separation – within the Hungarian population.
Is this Government – IMPLODING – from within – due to it’s DEEPENING – Economic & Financial “black” hole it has decended into ?
Civilians of Hungary – are paying already and this decision will impact and cut deeper into the quality of life / life-style of millions of Hungarians.