Spain Says Deficit Bigger Than Expected, Unveils Tax Hikes

Spain's new government said on Friday the public deficit for 2011 would come in at 8 percent of gross domestic product, well above a target of 6 percent, and announced income and property tax hikes and a civil servant wage freeze in response.

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Topics:  deficit   europe   europe debt   europe debt crisis   gdp   spain   tax hikes   
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BING NEWS:
  • Spain says deficit bigger than expected, unveils tax hikes
    Spain's new government said on Friday the public deficit for 2011 would come in at 8 percent of gross domestic product, well above a target of 6 percent, and announced income and property tax hikes and a civil servant wage freeze in response. Spain has ...
    11/6/2014 - 4:08 pm | View Link
  • Spain says goodbye to its king—and austerity
    But the country may gain more attention this week when Prime Minister Mariano Rajoy unveils a 6.3 billion euro ... national elections next year. Measures are expected to include cutting the corporate tax rate to 25 percent from 30 percent.
    06/2/2014 - 12:57 pm | View Link
  • Spain unveils $79 bln in new austerity plan
    A day after winning European Union approval for a huge bank bailout and breathing space on its deficit program ... The sales tax on basic goods like bread, medicine and books stays at 4 percent. The increases were widely expected but go against campaign ...
    07/11/2012 - 6:27 am | View Link
  • Rajoy’s budget seeks to buy time for Spain
    MADRID (MarketWatch)—As Spanish Prime Minister Mariano Rajoy unveils ... deficit won’t be reached, albeit by an acceptable amount,” Ruiz-Scholtes said. Rajoy is expected to announce up to 40 billion euros ($50.7 billion) worth of spending cuts and ...
    03/28/2012 - 1:05 am | View Link
  • Spain appeals to Brussels for easier deficit reduction targets
    unveils a wholesale revision of the eurozone's growth forecasts, as expected. Experts said the EC is preparing to cut its growth forecasts following the radical spending cuts, tax increases and job losses across Europe. The figures could force politicians ...
    02/22/2012 - 9:02 am | View Link
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