Balazs Hanko: Europe Pursues War Policy, Hungary Pursues Family Tax Policy

For the government, Hungarian families are the most important, as they represent the future and are the driving force of Hungary's economy, Minister for Culture and Innovation Balazs Hanko emphasized on the M1 news channel's morning program on Monday.

"While Europe is pursuing a war policy, Hungary is pursuing a family tax policy," the Minister for Culture and Innovation said on Monday on the M1 news channel's morning program.

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Balazs Hanko highlighted that Hungarian families are the top priority for the government because they represent the future and the driving force of the Hungarian economy. This is why the "family-friendly tax revolution," launched last July, is continuing this January as well.

As of January 1, the family tax allowance was doubled for one million families, and half a million mothers became exempt from personal income tax for the rest of their lives, which the minister described as a major step forward.

Providing details, he said that in a family raising one child where the mother is under 30, the measures leave 1.5 million forints per year in the household budget. In a family with two children where the mother is under 40, the annual amount is 2.2 million forints, while in the case of families raising three children, the tax reduction leaves 3.7 million forints per year.

The government believes that if families are strengthened both in their commitment to values and in their financial security, childbearing will increase, Balazs Hanko said.

Speaking on Kossuth Radio’s program Good Morning, Hungary!, the minister stressed that Hungary has a tax policy that simultaneously encourages having children and employment. According to the national consultation survey, Hungarians also support this approach: 97 percent backed family tax allowances, 96 percent supported personal income tax exemption, and 98 percent rejected tax increases.

Balazs Hanko pointed out, however, that the Tisza Party would abolish family tax allowances, raise personal income tax, and introduce a tax on pensions. As a result, the so-called Tisza package would take 166,000 forints per month from mothers under 30 with one child, 226,000 forints per month from mothers under 40 with two children, and 344,000 forints per month from mothers raising three children.

Cover photo: Balazs Hanko, Hungary's Minister for Culture and Innovation (Photo: MTI/Zoltan Mathe)

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