"This article critically reviews the new Hungarian Labour Code from the perspective of the changes it makes to workers' rights compared to previous versions, as well as in the context of the labour law legislation framed by the European Union and that which applies within a range of other EU member states. The author reviews collective and individual labour law, as well as the law on contractual change and working time; wages and allowances; the termination of employment as a result of redundancies; and new forms of work relationships. The rationale has been that labour de-regulation will create job opportunities, but the author points in response to the undermining effect of insecurity at work on morale and competitiveness, having effects also as regards the state budget, as well as on the likely increased trend of the emigration of skilled labour following a cheapening of the domestic price of their labour. It is to be feared that the new Labour Code will, in such circumstances, act not as a means of crisis management but rather as a crisis-raising element. "

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