Spain announces tax cuts and expect better growth of the economy

[yota691]

Spain announces tax cuts and expect better growth of the economy

 

 

Date Published: Thursday, February 27, 2014

Madrid (dpa) - Spanish Prime Minister Mariano Rajoy yesterday, said that the Spanish economy will grow this year at a rate of 1%, which is higher than the previous forecast, at the time when the plan to cut taxes in the country, which is still under the effects of the debt crisis Euro zone.

Rajoy forecast came during the economic debate in the European Parliament annually on the status of the country.

These expectations and better than the previous forecast, which announced last September, where she was referring to the economic growth rate of 0.7% of GDP.

 

The minister is also expected economic growth rate of 1.5% during the next year, as well as improvement of the labor market, which suffers from the second highest unemployment rate in Europe after Greece.

 

Nearly 5.5 million Spanish equivalent to 26% of the total labor force in Spain against unemployment.

At the same time, the tax cuts announced by the Prime Minister, will benefit about 12 million Spanish, and include tax cuts for those earning less than 12 thousand euros (16.5 dollars) per year.

It also will reduce the contributions of new employees in the pension funds and health care systems.

Rajoy said the head of the ruling People's Party, said that Spain used to be a trailer for Europe, but it now has become part of the tractor.

 

[mrparrot]

***Start sarcasm***

 

Really?

 

Cutting taxes helps an economy grow?

 

Who'd uh thunk it...?

 

***End Sarcasm***

 

Hello?

 

Washington?

 

Are you listening?

 

Of course you are.

 

A better question might be,

 

"Are you PAYING ATTENTION???".