Higher taxes ‘toxic’ for the Hungarian economy – Orbán

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Prime Minister Viktor Orbán said higher taxes would be “toxic” for Hungary’s export-oriented economy, commenting on an initiative to introduce a minimum corporate tax rate in a weekly public radio interview on Friday .

“We make a living by producing things cheaper, better, better, faster, with greater precision and with greater reliability than other production sites competing with us elsewhere in the world,” said Orbán declared on Kossuth Rádió.

“Anything that reduces that capacity, let’s say Brussels imposes higher taxes on us, which we protest, ruins our competitiveness. We will not be able to sell our products, because they will cost more to produce, and if we cannot sell our products, we will have less money and our standard of living will drop, “he explained.

“It is in Hungary’s national interest not to accept tax regulations imposed from outside,” he said.

Orbán said that a tax system that makes Hungary competitive is the “starting point” for the country’s economic success.

“The tax increases are toxic to the Hungarian economic system,” he added.

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