Tighten belts

TIGHTEN YOUR BELTS: IVA is rumoured to be increased further

HOW many more holes have you in your belt? The European Central Bank has noted with satisfaction Spain’s financial stabilisation. So far so good. Now it recommends that IVA be increased further and that levies be more heavily imposed upon the energy sector. Spain has suffered a 15.8 percent decline in business loans; a 4 percent drop in domestic applications. It seems we are all living hand to mouth.

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