Rajoy: Spain increases VAT

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  • VAT to rise to 21% from 18%
  • Increase in environment tax
  • Payment for new jobless cut to 50% of salary from 6 months
  • May revise installments on company tax
  • Tariff deficit to be eliminated
  • Power debt to be split between consumers, companies
  • New tax system to be used to eliminate tariff debt
  • To scrap rebate for homebuyers in 2013
  • Budget measures worth 65 bln euros over 2 years


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Spain|Spanish economy minister

Gerry Davies


  1. Is this the reason why spannish bond yields are creeping lower? +ve EUR?

  2. we need a tapebomb! :-)

  3. I wonder when politicians and economists understand that increasing taxes in the contracting economy doesn’t work. It kills the economy even harsher…

  4. Yes PBM, that’s exactly the reason


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