Industrialists want steeper tax cuts

The National Union of Industrialists approved of the overall tax cut package but would like to see the 1.2 trillion forint (about 4.7 billion euros) cuts introduced in less than four years.

The government's 300 billion
forint/year (about 1.2 billion euros) tax cut package would keep the
government in equilibrium, maintain social security and build
economic dynamics, but anything more than that would do the opposite
Hungary's prime minister said.

Prime
Minister Ferenc Gyurcsany was speaking after a meeting with the
President of the National Union of Industrialists Peter Futo.
"If the tax cut programme is
accelerated the country would not be able to keep its deficit at bay
and would have to reduce welfare and social security measures, so
steeper cuts in taxes would not be a responsible move, the prime
minister said. With the current programme, each worker will get an
extra 60,000 forints (about 250 euros) in take-home pay next year in
tax cuts, while employers will save 80,000 forints (about 335 euros)
per worker, he added.