Matolcsy: The gig economy should go for a tax reform

English2020. dec. 2.GOVERNOR MATOLCSY100WORDS

What’s next for the gig economy? /Sarah O’Connor, FT, 10 November 2020/ Also, what about the future of work?

By now, both the developed and the developing worlds have a growing number of irregular jobs, part-time jobs and on-call work schedules. Actually, before the industrial revolution all these numbers were much higher due to the “irregularities” /seasons, weather, plenty of forced spare-time, wars/ of the agriculture-based economy.

The gig economy offers a promising new fusion of work and freedom. It seems to be the mixture of Protestantism and European Enlightenment.

There is only one snag: it is the lack of tax revenues. There are two solutions for this side effect. Gig economy players should pay more income taxes or taxation should change in the right direction.

Why not change taxation by lowering all income-type taxes and increasing all consumption-type taxes, adding some new green and sustainability elements to it?

We did it in Hungary and it works.

Governor Matolcsy, MNB, the Central Bank of Hungary

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