A raft of measures has already been outlined by Tisza and its prospective ministers during today’s parliamentary committee hearings. István Kapitány, Anita Orbán, András Kármán and Szabolcs Bóna addressed issues ranging from price caps and windfall taxes to VAT reductions, euro adoption, Hungary’s energy mix, and the dire state of the public finances—raising the prospect that some reforms may yet be delayed.
Fair competition, predictable rules
Speaking before the Economic and Energy Committee, István Kapitány set out his vision for reviving the Hungarian economy. Arriving just ten minutes before proceedings—an uncommon display of punctuality by recent ministerial standards—he fielded questions with notable openness.
The former global vice-president of Shell argued that successive Orbán governments had “bled the economy dry”, stressing the urgent need to restore both public and investor confidence. Securing EU funds was identified as a top priority, with €6.9 billion in non-repayable grants potentially arriving first.
Kapitány called for predictable regulation and fair competition, insisting that success should favour entrepreneurs with talent, sound judgement, and the courage to take risks. Additional state revenues, he suggested, would come not from new burdens but from eliminating waste and corruption, and from ending the era of overpriced, unfavourable contracts, the Hungarian news outlet telex.hu wrote.
Price caps and windfall taxes to stay—for now
Within its first hundred days, the new government intends to review existing contracts and obligations, including the Paks II nuclear project. The Russian contractor has previously indicated its willingness to engage, particularly on pricing matters. Where possible, details will be made public.
EU funds, Kapitány added, should be directed primarily towards transport, housing and energy, followed by green and digital transitions. While price caps and windfall taxes will be reassessed, their removal is not yet on the agenda.
Hungary, he made clear, will not sever ties with Russian oil, though diversification is sought. The share of Russian imports rose from 65 per cent to 90 per cent between 2022 and 2025—a dependency he described as undesirable.
His nomination as minister was approved by the committee with 12 votes in favour and three abstentions.
Hungarian euro
Anita Orbán, Tisza’s nominee for foreign minister and deputy prime minister, outlined three strategic goals, including a significant economic ambition: creating the conditions for euro adoption by 2030. This would sit alongside securing affordable, stable energy supplies and strengthening border protection.
VAT cuts on the table
Szabolcs Bóna, the prospective agriculture minister, told Parliament’s Agriculture Committee that decisions on reducing VAT on fruit and vegetables—from 27 per cent to 5 per cent—would depend on the state of the budget. The possibility of extending such cuts to other food products is also under consideration.
Agricultural economist György Raskó suggested the move would lead to tangible price reductions, even if part of the benefit were absorbed by retailers and producers. He argued the measure would be fiscally manageable, costing around 150 billion forints annually.
Have you seen this? Hungary’s dancing health minister steals the show again as British singer Jalja joins Kossuth Square celebration
Figures from RTL indicate that since 2015, fruit prices have risen by 138 per cent and vegetables by 136 per cent. Hungary’s 27 per cent VAT rate is, notably, two-and-a-half times higher than Austria’s and five times that of Croatia.
A precarious budget
With the budget deficit already reaching 91 per cent of its annual target by the end of April, the incoming government is preparing a supplementary budget. András Kármán, the prospective finance minister, conceded that the true state of public finances remains unclear.
The nominees of prime ministerial candidate Péter Magyar are expected to take their oaths before Parliament on Tuesday afternoon, after which the formal handover of ministries can begin.
If you missed:
Péter Magyar appoints Tisza Party’s Deputy Prime Minister: you might already know them!
Political uproar erupts after far-right MPs walk out during Hungary’s parliamentary opening session
Hungary’s new PM Péter Magyar vows Tisza “will never become another Fidesz” – The New Yorker
