October 17, 2012 / 9:30 AM / 7 years ago

Hungarian banks reject govt decision to keep bank tax

BUDAPEST, Oct 17 (Reuters) - The Hungarian government’s new measures to raise taxes on banks violate an earlier agreement signed with banks and hurt the economy, the Hungarian Banking Association said in a statement on Wednesday.

“The measures announced by the government today — if passed by parliament — endanger predictable financing to economic players and all their elements reduce the lending ability of banks,” it said.

The country’s economy minister said the government would not halve a windfall tax on the bank sector next year — contrary to earlier plans — and will raise the rate of a new tax on financial transactions. (Reporting by Sandor Peto)

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