This is Hungary’s response to demographic decline, not promoting foreign migration
Countries in Western Europe adopted migration as their path towards resolving the problem of national population decline. In Hungary, however, there are new child support and interest-subsidised loans for used homes available from July. Here are the details of the Orbán Government’s seven-point plan to promote and protect families with several children.
In his state of the nation address this afternoon, PM Orbán announced his government’s seven-point plan aimed at reversing Hungary’s demographic decline. With the economic achievements of the last eight years, Hungarians have begun to believe again in their future, he said.
During the address held this afternoon at Budapest’s Castle Garden Bazaar, Prime Minister Viktor Orbán announced the Government’s long-anticipated family policy package, aimed at correcting Hungary’s negative demographic trends.
The package includes expanded subsidies for home and automobile ownership for families, increased child credits, mortgage relief for child-bearing families, income tax exemptions and more. (See a list of the seven points below.) Protection of the family, including support for home ownership and assistance to couples bearing children have long been a priority for the Orbán Government.
According to PM Orbán, today we’re living in a Europe with birth numbers on a steady decline, so countries in Western Europe adopted migration as their path towards resolving the problem. However, the prime minister said, Hungarians are a different kind, “we don’t just want numbers, we want Hungarian babies.” Referring to the above package, he added that “this is Hungary’s response to demographic decline, not migration.”
Here are the details of the Orbán Government’s seven-point plan:
1. Young married couples are now eligible to apply for a 10 million HUF (35000 USD) childbearing loan with a discounted interest rate.
2. The family home ownership subsidy program, known as CSOK, will be expanded to include used homes as eligible for the financial subsidy.
3. The government will deduct over 1 million HUF (3500 USD) per child from the mortgages of young, married couples and 4 million (14200 USD) for the third child.
4. Women who have given birth to at least four children will be granted life-long exemption from personal income tax liability.
5. Families with three children or more can apply for a 2.5 million HUF (8900 USD) , non-repayable grant toward the purchase of a new car.
6. The government will provide complete creche coverage through the construction of 21,000 new nursery places over the next three years.
7. Grandparents can now go on maternity leave instead of one of the parents.