The research shows that Hungarians have a realistic view of the fact that the increase in prices is inseparable from the Russian-Ukrainian war and its consequences. Accordingly,
The population agrees with the excess profit tax on windfall profits
Seventy-nine percent of Hungarians are in favour of the government imposing an excess profit tax on companies that have made windfall profits so that the revenues generated in this way should make utility price cap sustainable in the long run, according to the latest poll of Századvég. The survey covered the opinion of the population about the reasons for the increase in prices and the question of what expectations Hungarians have of companies’ burden-sharing that benefit even in a war situation.
Inflation is fuelled by the Russian-Ukrainian war
the war situation (89 percent),
the energy crisis caused by the Russian-Ukrainian conflict (90 percent), US and EU sanctions and sanction plans against Russia (79 percent),
and corporations and traders that speculatively and unilaterally raise prices (77 percent) are mainly held responsible for inflation by respondents.
The share of those who say both Brussels’ energy policy and EU energy taxation play a role in increasing inflationary pressure is 71 percent, while 67 percent of respondents believe that US and Joe Biden’s policies are also responsible for rising prices.
Hungarians are in favour of taxing windfall profits
The effects of the war conflict in Ukraine have posed significant challenges to Hungary in the fields of economy and energy, among other things. The survey shows that
84 percent of respondents expect companies that make windfall profits in a war situation to help Hungarians and contribute to Hungary’s defence costs,
while 13 percent do not consider it necessary.
Similarly,
79 percent of Hungarians agree with the proposal for imposing an excess profit tax on companies that have realised windfall profits through inflation and speculative increase in prices and with the government to use the revenues generated in this way to sustain the utility price cap in the long run.
Methodology
CATI method, n=1000, among the Hungarian adult population, data collection: May 2022