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We will protect low household energy bills and take extra profits away

In a video message posted on his Facebook account, the Prime Minister said they will oblige banks, insurance companies, large retail chains, energy industry businesses, trading companies, telecommunications companies and airlines to pay a large part of their extra profits into these two funds.

The government will finance the costs of the reduction of household energy bills and the reinforcement of the defence forces from these two funds, he added.

He also said the measures in question are limited in time: they will remain in effect for two years, in 2022 and 2023.

Mr Orbán recalled that they had pledged to protect families, pensioners, jobs and the reduction of household energy bills also in the present prolonged war situation.

He said at its meeting held during the day the government reviewed the country’s economic situation. The Prime Minister pointed out that the war was becoming drawn out, Brussels’ sanctions policy was not improving, and these circumstances together were resulting in drastic price rises.

Today in Hungary, the reduction of household energy bills is protecting families; however, the price of energy is rising further, and therefore it is becoming increasingly difficult and costly to protect families, he said.

According to Mr Orbán, we must immediately reinforce our defence forces as well.

In the meantime, by virtue of increasing interest rates and increasing prices, banks and large multinational corporations are making higher profits, extra profits, he said.

“We ask, we expect those who make extra profits in the present war situation to help the people and to contribute to the country’s defence expenses,” he said, adding that the detailed figures will be disclosed to members of the public at the Thursday ‘Governmentinfo’ press conference.