More Austerity Coming to Spain
Spain announced a package of spending cuts and tax increases Friday after the new government said the budget shortfall is deeper than the outgoing administration had led it to believe. Meaningful structural reforms have yet to be proposed, and the full extent of the cuts is unlikely to be made known until after regional elections in late March.
Spain announced a package of spending cuts and tax increases Friday after the new government said the budget shortfall is deeper than the outgoing administration had led it to believe. Meaningful structural reforms have yet to be proposed, and the full extent of the cuts is unlikely to be made known until after regional elections in late March. –ARK
Your support is crucial…The Guardian:
The principal measure comes in the form of an €8.9bn budget cut spread across all government departments. There are also across-the-board income tax increases and for home-owners, a one-year freeze on public sector salaries, a freeze on the minimum wage of €641.40 a month and cuts in subsidies to trade unions and political parties. Pensions, as promised, will rise by 1% next month, and the cut-off point for unemployment benefit is to be extended for a further six months.
… Income tax on salaries of €9,500 will rise 0.75% and by up to 7% on incomes above €300,000.
… Amid all the austerity, there were no measures that appeared to be designed to boost productivity or dent Spain’s crippling 23% unemployment rate. Indeed, the spending cuts seem certain to lead to job losses. [Vice President] Sáenz de Santamaría, who gave birth to her first child six weeks ago, also announced the suspension of plans to extend paternity leave to one month until 2013.
With an uncertain future and a new administration casting doubt on press freedoms, the danger is clear: The truth is at risk.
Now is the time to give. Your tax-deductible support allows us to dig deeper, delivering fearless investigative reporting and analysis that exposes what’s really happening — without compromise.
During this holiday season, stand with our courageous journalists. Donate today to protect a free press, uphold democracy and ensure the stories that matter are told.
TD Original
An historic progressive coalition looks to change the course of politics on the island.
Social Justice
As many as 70,000 child care centers are projected to close in the next several months as pandemic-era federal funding ends, pushing an industry already in crisis to a breaking point.
The budget proposal offers a terrifying preview of what we can expect from Trump if he wins another four years in office.
The former mayor of South Bend, Indiana, draws fire for claiming it's "not fashionable in progressive circles" to talk about the deficit.
Iraqis are demanding an end to corruption and sectarianism, while also objecting U.S. troops and Iranian influence.
From Chile to Iraq, popular uprisings against austerity and corruption are spreading like wildfire at a crucial point in history.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.