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SUBSIDY PACKAGE TO COST HUF 150BN A YEAR

 

State secretary for family policy Katalin Novák has said the family support measures unveiled by the prime minister on Sunday will cost the central budget about 150 billion forints (EUR 472m) a year. This year, the fiscal impact of the measures is expected to be half that amount, Novák said, noting that the 10 million forint loan (EUR 31,500) available to women committed to having children would be available from July 1, 2019. Women between the ages of 18 and 40, in their first marriage, who have worked for at least three years, are eligible for the loan which will be interest free, she added. Preferential loans for family home purchases (csok) will become available for the purchase of resale homes from July 1, 2019, she said. A 35 million forint cap on the value of resale homes for which families with children may apply for csok subsidies will be scrapped, she added. The personal income tax exemption for women with four or more children is expected to be introduced from 2020, Novák said. The exemption will apply only to earned income, not to dividends. Payments to grandparents for carrying out child care will only apply if they are not yet pensioners and if they take child care leave, she said. The 2.5 million forint subsidy for buying large passenger cars may cover at most half of the cost of the vehicle, she added.