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Salgado says no VAT & fuel tax increases

Source: Reuters - Fri 10th Dec 2010

Spain has no plans to raise either gasoline taxes or value-added tax, Economy Minister Elena Salgado told a national radio station on Friday.

Spain's Socialist government last week said it would raise taxes on tobacco as it seeks to reduce Spain's deficit.

But Salgado ruled out co-payment on medicines by patients to raise revenues.

Another of the measures announced last week, the partial privatisation of airports authority AENA, could raise 8 billion euros, Salgado said.

Salgado said Spain's deficit target was "unconditional", and it would revise its budget if required to hit the target.

The economy minister said the yield on Spanish government debt was not alarming and did not rule out yields on bond auctions rising in the coming weeks.

She added that no rescue package for Spain had ever been contemplated. Market attention has turned to Spain following an aid package for Ireland.

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