December 12th, 2008

Hungary seeks int’l support for proposal to ease limits on company subsidies

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Paris supports a proposal by the Hungarian government to either double the limit on direct subsidies for companies over the next two years or to allow wage support subsidies for small businesses, Hungary’s National Development and Economy Minister Gordon Bajnai said after talks with his French counterpart Christine Lagarde in France on Thursday.

Hungary and France are both experiencing the problem of rescuing struggling SMEs, as well as keeping the auto, electronics and construction industries on stable footing, Mr Bajnai said.

Hungary and France have similar stands on trade rules being negotiated within the World Trade Organisation, as well as on questions of investments related to the global economic crisis, Mr Bajnai said. Hungary and France also see eye to eye on the necessity of establishing a single financial market watchdog for the EU, he added.

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  1. Dubious says:
    December 12, 2008 at 12:07 pm

    Or… cut taxes, and streamline the paperwork required for SMEs.