Hungary govt mulls measures to cut deficit further, says Orban

A letter containing measures to further reduce Hungary's budget deficit has been sent to the European Commission, including a proposal for tax hikes, Prime Minister Viktor Orban told a press conference after an EU summit in Brussels. Orban said that "if the rules of mathematics still mean anything" Hungary should exit the excessive deficit procedure launched against it. He added that by the time he returns to Hungary he should be given a draft proposal for raising the transaction tax, the bank tax, the energy tax and to introduce a new tax on advertisements, as part of the proposals sent to Brussels.