Hungary’s Opposition Pledges Euro Adoption and Wealth Tax in New Manifesto
Budapest, Saturday, 7 February 2026.
The opposition proposes a 1% tax on assets exceeding 1 billion forints to fund a massive healthcare overhaul and prepare Hungary for Eurozone integration.
Strategic Pivot: A New Economic Blueprint
On Saturday, February 7, 2026, Hungary’s leading opposition force, the Tisza party, released a definitive 240-page election manifesto titled “The foundations of a functioning and humane Hungary” [1][3]. Developed over 18 months with input from more than 1,000 experts and 65 working groups, the document outlines a stark departure from current policies just weeks before the April 12, 2026, parliamentary elections [1][4]. The program targets a rapid “system change” within the next 64 days, positioning the party to form a government that prioritizes orthodox economic stability and Western integration [4][7]. Led by Péter Magyar, the party aims to reverse what it describes as a period of economic stagnation where Hungary recorded the lowest average growth among regional peers over the last two decades [7].
Fiscal Restructuring and Tax Reform
At the core of the Tisza party’s fiscal strategy is a redistribution of the tax burden, moving away from labor taxation toward capital accumulation. The manifesto introduces a 1% annual wealth tax on high-net-worth individuals possessing assets exceeding 1 billion forints ($3.13 million) [1][2]. This revenue measure is designed to offset significant tax relief for lower-income earners; specifically, the party pledges to slash the tax rate on the minimum wage from 15% to 9%, a reduction of 40 percent in the tax burden for the most vulnerable workers [2][5]. Additionally, the proposal includes reducing the Value Added Tax (VAT) on prescription drugs to 0% and cutting the rate for healthy foods and firewood to 5%, directly addressing the cost-of-living crisis [2][5]. Party experts estimate that curbing corruption and rationalizing state finances could unlock an additional 3,500 to 4,000 billion forints annually, equivalent to approximately 4% of GDP [4].
The Path to the Euro and EU Reintegration
The manifesto explicitly commits to anchoring Hungary firmly within the Eurozone, promising to set a “foreseeable and achievable” target date for adopting the single currency [1]. To achieve this, the opposition pledges to meet the Maastricht criteria—including maintaining a budget deficit below 3% and stabilizing inflation and interest rates—by 2030 [2]. A critical component of this stabilization plan involves unlocking approximately 8,000 billion forints in frozen European Union funds, alongside an estimated 2,000 billion forints annually from the 2028–2029 EU budget cycle [2][7]. This influx of capital is intended to support domestic enterprises and infrastructure, signaling a decisive shift toward repairing diplomatic ties with Brussels and ending the current adversarial stance [2][7].
Social Spending and Energy Independence
Addressing the country’s social infrastructure, the Tisza party has outlined an aggressive investment plan for healthcare and education. The program mandates increasing state healthcare funding to 7% of GDP by 2030, supported by an immediate annual injection of 500 billion forints [4][6]. Specific targets include reducing inpatient waiting lists to a maximum of six months and outpatient wait times to two months by the end of 2027 [2][5]. On the energy front, the manifesto sets a deadline to eliminate dependence on Russian energy by 2035 and aims to double the share of renewable energy sources by 2040 [1][4]. While the party advocates for strong EU and NATO alliances—pledging to increase defense spending to 5% of GDP by 2035—it maintains a strict stance on migration, promising to retain the southern border fence and implement a ban on non-European guest workers effective June 1, 2026 [2][7].