The government is set to launch a 10-point job protection action plan, which aims to improve the situation of disadvantaged employees, jobseekers and enterprises. The primary objective of the package is to create and preserve existing jobs as one of the keys to the economic growth of Hungary. The budgetary resources required for the action plan will be provided by the financial transaction duty. Prime Minister Viktor Orbán stressed in his weekly interview with public radio MR1, that the government will have the funds for the job protection action plan under any circumstance, even if it has to modify the financial transaction tax. The country’s financial transaction tax, which the cabinet plans to introduce on 1 January 2013, has taken the centre stage over the past few days after the European Central Bank (ECB) said it would impair the MNB’s functional and institutional independence. The government hopes to collect HUF 120 billion next year from the Bank in form of the FTT, but it would need to pay this back in 2014 so it would help improve the budget balance only on the surface.
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For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.