Hungary gives tax breaks to big families

News

February 11, 2019 - 9:27 AM

BUDAPEST, Hungary (AP) — Hungary’s government is greatly increasing financial aid and subsidies for families with several children, the country’s prime minister said Sunday.

The measures announced by Viktor Orban during his “state of the nation” speech are meant to encourage women to have more children and reverse Hungary’s population decline.

The benefits include a lifetime personal income-tax exemption for women who give birth and raise at least four children; a subsidy of 2.5 million forints ($8,825) toward the purchase a seven-seat vehicle for families with three or more children; and a low-interest loan of 10 million forints ($35,300) for women under age 40 who are marrying for the first time.

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