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Spain's Rajoy hopes not to raise taxes next year

Source: Reuters - Thu 30th Aug 2012
Spain's Rajoy hopes not to raise taxes next year

Spain will try to avoid raising taxes in next year's budget, Prime Minister Mariano Rajoy said on Thursday, following a meeting with French President Francois Hollande.

"I'm telling you now that in the next budget I will not raise either personal income tax or value-added tax. We will try to draw up a budget that allows us to meet our obligations ... I hope we don't need to take such difficult decisions", Rajoy said at a joint news conference after the bilateral meeting in Madrid.

Spain's center-right government decided to raise VAT, or value-added tax, as part of a raft of austerity measures passed this year, despite promising in its election campaign not to up the tax. The rise in VAT comes into effect on Saturday.

Comment on this Story

 
According to his pre-election policies he wasn't even going to increase taxes THIS year. Why should we believe anything he has to say now ? What an arse !
Robster - Fri, 31st Aug 2012