Hungary’s Incoming Cabinet Seeks to Cut Taxes and Fix Bank Ties

Hungarian premier-elect Peter Magyar’s incoming cabinet plans to cut taxes for low earners and held talks to repair ties with banks that frayed under Viktor Orban’s tumultuous 16 years in power.

Istvan Kapitany, who will be in charge of the economy and energy after the Tisza party takes over next month, said one of the first steps will be to lower personal income tax on the minimum wage to 9%, according to a social media post late Wednesday. Hungary currently has a flat 15% levy on most salaries, though Orban has introduced a slew of exemptions for families. ...