December 1, 2016 / 9:11 AM / a year ago

Hungary plans transaction tax rebate to boost lending -minister

BUDAPEST, Dec 1 (Reuters) - Hungary’s government is planning rebates in a financial transaction tax for commercial banks that boost their lending to companies substantially, Economy Minister Mihaly Varga said on Thursday.

Varga told reporters on the sidelines of a business conference that the rebate, which would carry an upper limit, would be available to banks that increase their corporate loan stock by at least 20 percent.

The minister added that the government would discuss the proposal with the Hungarian Banking Association and hoped for a “good compromise” as higher lending would contribute to stronger economic growth next year. (Reporting by Gergely Szakacs; Editing by Andrew Heavens)

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