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Ear to the Ground

Spanish Government Goes for Big Austerity Cuts

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Posted on Mar 30, 2012
Wikimedia Commons

Remember when austerity sounded more like an obscure SAT word than cause for international economic panic? This time around, it’s the Spaniards who are feeling the pinch, as their government has announced major budget cuts for the year.  —KA

BBC:

Spain is cutting 27bn euros ($36bn; £22.5bn) from its budget this year as part of one of the toughest austerity drives in its history.

Changes will include freezing public sector workers’ salaries and reducing departmental budgets by 16.9%.

The government says it will raise 12.3bn euros this year, aided by an increase in tax for large companies.

Deputy Prime Minister Soraya Saenz de Santamaria said the nation was in an “extreme situation”.

“Our top priority is to clean up public accounts,” she said.

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By berniem, March 31, 2012 at 10:38 am Link to this comment

Governments dedicated to the punishment of its citizens for the crimes and malfeasance of its elites have no right to exist! FREE BRADLEY MANNING!!!!!

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