Hungarian Parliament Guts Budget Council
- 7 Dec 2010 12:01 AM
"The Budget Council was deprived of its staff and budget in a vote in Parliament yesterday. The new Council will consist of three members working free of charge, as the independent body’s budget has been cut to zero. Those three will be the governor of the National Bank, the head of the State Audit Office and an economist appointed by the President for six years.
Hungary needs a Budget Council that has a strong licence and is free from red tape, Public Administration Minister Tibor Navracsics told MTV Monday morning.
Budget Council president György Kopits said earlier on the same programme that if Parliament were to reduce the Council’s budget to Ft 10 million and restructure it, then the body “will not only be a toothless lion but a shadow of one”.
Parliament also approved a Fidesz proposal based on which individuals will pay a 16% tax on income repatriated from offshore assets by October 31, 2010."
Source: Hungary Around the Clock
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