Montoro stressed that taxes will not be raised, and indicated that next year there will be “a selective reduction in taxes for the first time since the start of the crisis.”

Montoro stressed that taxes will not be raised, and indicated that next year there will be “a selective reduction in taxes for the first time since the start of the crisis.”

Humphrey Carter05/10/2013 00:00
TW
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The Balearic government intends to challenge central government in Madrid over the proposed cuts to the regional budget next year.

 

Palma.—The draft budget was unveiled earlier this week and, as it stands, will mean that the Balearics will be 74 million euros out of pocket next year with Madrid intending to reduce its state funding for the region by 74,02 million, some 4.7 percent in comparison to last year.

Balearic government spokesperson, Nuria Riera, said yesterday that the government is "extremely disappointed" with central government because over the course of this year it has, on numerous occasions, pledged its support to helping the Balearics climb out of recession ahead of the rest of the country.