Wed, 11 Jul 2012 12:15:57 GMT
Spain decides on new tax increase and government spending cut
The Prime Minister of Spain, Marianno
Rajoy, announced new tax boost and government spending cuts of EUR 65
billion. Sales levy will be increased from 18% to 21%. To lower
government spending unemployment benefits will be reduced and no tax
rebate will be provided for home buyers. Moreover local governments
will be consolidated, while not all public workers will receive bonus
at the end of the