Hungarian Prime Minister Peter Medgyssey and the leaders of the major coalition parties have agreed to form a working party that will discuss how cuts in personal income tax planned for next year are to be funded.
Something of a political storm erupted earlier this month when Medgyssey announced that the tax cuts due to take effect in 2004 were to be postponed in spite of the measures already being written into law, much to the annoyance of the government's coalition partners. "The alliance of Free Democrats insists that the government's manifesto and the tax brackets that had been jointly approved by the coalition parties be implemented," said Free Democrat Chairman Gabor Kuncze at the time of the pronouncement.
According to Medgyessy: "The task of the working group will be to determine how the above priorities are compatible with the intention of reducing taxes. The mandate of the group is to find the funds for carrying out the tax reduction."
The group of three are scheduled to meet early next month to discuss the options ahead of them, with a final decision due to be made on September 10 regarding the issue.
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