Search thinkSPAIN.com for  in 
spain jobs
backprinttell a friend

Government approves 2012 budget with 27 billion euros worth of cuts
By:
ThinkSpain , Friday, March 30, 2012

The Council of  Ministers has today approved the draft budget for 2012, which includes cuts totalling 27.3 billion euros by reducing ministerial operating costs by 16.9% and increasing corporation tax for large companies.

Deputy prime minister, Soraya Sáenz de Santamaría, announced that budget did not include any increase in VAT so as not to compromise consumers' purchasing power, and that it would maintain the current pension rates.

Furthermore, civil servants' salaries have been frozen, rather than reduced, there are no reductions in unemployment benefit and nor in other social benefits, like grants.

"We've started by tightening our belts here in government and in the public sector", said Sáenz de Santamaría  with regard to the "drastic cut" in the running costs of the ministries, which is in fact even greater than had been suggested last week by the prime minister, Mariano Rajoy, who spoke of reducing costs by up to 15 %.

In addition, an effort will be made to balance the books by increasing tax income, specifically corporation tax paid by large businesses.

"We are in a very extreme situation with regard to blanacing the public books, and unemployment", said Sáenz de Santamaría after the meeting, during which the draft budget was approved.  The budget will be presented to the Congress of Deputies next Tuesday.

The main aim of the austere budget is to meet the budget deficit target set by Brussels - 5.3% of GDP.

 
Print Share Article RSS News Feed
print tell a friend stumble it!  delicious  digg it!  facebook   rss feed View feed | Add to my RSS reader rss feed

Latest ThinkSpain News
Sierra Nevada fire may have been caused by arsonists
Crime/Incidents - (23/8/2014)
Leading mental health expert's advising serial rapists and paedophiles to 'commit suicide' sparks mixed reactions
Community/Public Services - (23/8/2014)
Government rape protection advice causes controversy: 'Sexist' or 'common sense'?
Crime/Incidents - (22/8/2014)
 
Latest Politics & People articles
Penélope Cruz slammed by Israeli columnist over boycott of conflict-ridden country
Spain  - (18/8/2014)
Marbella Boulevard of Fame star for Vicente del Bosque and Adoptive Son title for Mario Vargas Llosa
Andalucia  - (10/8/2014)
Pujol family 'has over half a billion euros' in Andorra alone - plus accounts in four other tax haven countries
Catalonia  - (3/8/2014)
 
  back
Follow thinkSPAIN on
Facebook Twitter
 
 
 
 
 
Spanish news archive Costa Blanca news Costa del Sol news Alicante news Castellon Valencia news Barcelona news Catalonia Costa Brava news Madrid news Tenerife news Canary Islands Malaga news Marbella news Andalucia news Sevilla news Costa Almeria news Murcia news Costa Calida Aragon news Asturias news Balearic news Mallorca Menorca news Ibiza Basque news Bilbao Cantabria news Castilla La Mancha news Castilla Leon news Extremadura news Galicia news La Rioja news Navarra news Spanish Travel Tourism news Spanish Property Spain directory services Spanish A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Jobs in Spain Postcodes Spanish weather Spain History Spanish Culture Flamenco dancers Sevillanas Bullfighting bullfight bull fighting matador bullfighter Spanish Education Spain Schools Facts about Spain Clubs in Spain mortgages Spanish bank Spain banking Spanish banks Spain inheritance Spanish wills Spanish healthcare in Spain Working in Spain work Spanish employment Driving Spain cars Spanish car Spain Tax & Spanish Residency Property in Spain for Sale Spanish property to rent Spain holiday lets Spain news Spanish Properties SpainSave costa blanca 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 costa del sol 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 local news/info Spanish estate agents Off Plan property Spain | costa blanca property sales properties for sale real estate costa blanca villas | costa del sol property sales properties for sale real estate costa del sol villas | costa de la luz property sales properties for sale real estate costa de la luz villas | costa brava property sales properties for sale real estate costa brava villas | costa almeria property sales properties for sale real estate costa almeria villas | costa calida property sales properties for sale real estate costa calida villas | costa valencia property sales properties for sale real estate costa valencia villas | costa azahar property sales properties for sale real estate costa azahar villas | costa dorada property sales properties for sale real estate costa dorada villas | costa garraf property sales properties for sale real estate costa garraf villas | costa maresme property sales properties for sale real estate costa maresme villas | costa vasca property sales properties for sale real estate costa vasca villas | costa verde property sales properties for sale real estate costa verde villas | costa da morte property sales properties for sale real estate costa da morte villas
 
© 2003-2014 Think Web Content, S.L. - All rights reserved