Taxes on the rise

THE Spanish government has announced that it will be able to raise €4 billion for the Treasury by raising corporation and fuel tax, as well as a financial transactions tax.
Finance Minister Maria Jesus Montero said those who earn over €150,000 a year will also see their income tax rate rise to 52 per cent, bringing in a further €400 million.
Prime Minister Pedro Sanchez has hinted that he wants to raise Spain’s tax payments as a percentage of GDP from 38 per cent to 46 per cent, in line with the European average.
But opposition party Podemos does not believe that PSOE is doing enough to raise revenues, and believes tax increases for the wider public can be achieved without causing undue hardship.