National freedom exists only when there is financial independence, Minister of Finance Mihály Varga stated during the celebration of the 175th anniversary of the establishment of the Ministry of Finance on Monday, 10 July in Budapest.
The minister reminded all that
the independent Hungarian Ministry of Finance was the first lasting success of the revolution.
In April 1848, Lajos Kossuth began working on the establishment of the ministry, and it started operation in May of that year. In July 1848, the first national budget was adopted.
Mihály Varga emphasised that in today’s times, the habit of ‘cancel culture’ is to underestimate the past. We, Hungarians, also have memories of the erasure of the past, which always leads to vulnerability, he added, noting that those who do not know their past are always vulnerable. Our past cannot be taken away from us, we ought to celebrate and remember our predecessors, the minister emphasised.
He recalled several influential politicians such as Lajos Kossuth, Menyhért Lónyay, Kálmán Széll, and Sándor Wekerle, who, as he said, all worked to achieve financial independence. He referred to the 1868 budget after the Austro-Hungarian Compromise of 1867, which included the restoration of balance between the revenue and the spending to cover the needs as the most important guiding principle. There is nothing new under the Sun; we still need to work on this today, Varga went on to say. He also stated that to maintain balance, new solutions are needed from time to time.
‘It is important to remember that even Kossuth applied solutions during a wartime period that balanced the country’s budget. We also have to apply solutions that temporarily hinder the functioning of the budget at times. It is not always necessary to impose new taxes,’ he expressed.
He also mentioned that this is the last celebration held in the current building of the ministry because
the relocation of the institution to the Castle District, next to Matthias Church, is expected to take place next year.
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