Spanish Welfare: Austerity & Protest

Europe in Crisis

Rajoy’s Ambitious Austerity Plan for 2012

IberoSphereThe conservative Spanish government, lead by Prime Minister Mariano Rajoy, is taking extensive austerity measures to cut Spain’s deficit. Rajoy recently unveiled his goal of cutting last year’s fiscal deficit from 8.5 per cent of GDP to 5.3 per cent in 2012. The measures include €27bn worth of spending cuts and tax hikes; public worker wages will be frozen, government ministers should see a reduction in pay, large companies could see stricter measures regarding tax loopholes and tobacco could be taxes at higher rates.

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