"No man can become rich without himself enriching others"
Andrew Carnegie



Wednesday, July 11, 2012

Rajoy Announces 65 Billion Euros in Budget Cuts to Fight Crisis

Mariano Rajoy
Mariano Rajoy (Photo credit: Wikipedia)
Spanish Prime Minister Mariano Rajoy announced taxation increases and spending cuts totaling 65 billion euros ($80 billion), risking a deepening retrogression to keep the euro financial predicament during bay. Rajoy’s fourth purgation package in 7 months will raise
the sales levy to 21 percent from 18 percent; throw a taxation rebate for home buyers; scale behind unemployment benefits and study pension cuts; connect internal governments and discharge the year-end reward for open workers. The check measures, covering the subsequent two-and-a-half years, are about double those previously announced. The primary apportion addressed Parliament in Madrid currently as European officials put a finishing touches to a 100 billion-euro bailout for Spain’s banks. The amendments to a budget come reduction than dual weeks after it went into outcome and a day after a European Union loosened Spain’s necessity targets. ... Continue to read.
Enhanced by Zemanta

No comments:

Post a Comment