Prime Minister Viktor Orbán said Hungary's government is introducing Europe's biggest tax reduction program.
Addressing lawmakers at the start of the spring session in parliament on Monday, PM Orbán noted measures the government announced earlier, including zero-interest credit for young blue-collar workers, subsidies for home renovation in the country's smallest settlements, a student dormitory construction scheme and policies to support SMEs.
The prime minister also affirmed the government would introduce lifetime personal income tax exemptions for mothers with three children. He added that the exemption would be rolled out gradually and apply to mothers under 40 from January 1, 2026, to those between 40 and 50 in 2027, those between 50 and 60 in 2028, and those over 60 in 2029.
PM Orbán said the measures, unprecedented in Europe, would be a huge budget expenditure, but fiscal deficit and state debt levels could still be reduced.