Portugal to unveil austerity budget
Monday 15 October 2012
Portugal's government is putting the finishing touches to a draft budget for next year which is expected to be one of the toughest in the country's recent history.
Finance Minister Vitor Gaspar has said the spending plan will include an "enormous" increase in taxes as well as further cuts in public services and civil service layoffs.
Portugal needed a 78 billion euros (£62.8 billion) bailout last year to avoid bankruptcy when it was engulfed by the eurozone's debt crisis.
But it has struggled to reduce its deficit because the cuts have deepened a recession, sending unemployment to a record 15.9%.
The centre-right government's austerity policies have triggered broad public outrage and brought tensions between the two parties in the governing coalition.
The government is due to publish the budget draft later today.
- 1 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 5 Men behaving badly: Urinating while standing, 'manspreading' and the gendering of selfishness
Nigel Farage: NHS might have to be replaced by private health insurance
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
British Muslim school children suffering a backlash of abuse following Paris attacks
George Galloway condemns 'racist, Islamophobic, hypocritical rag' Charlie Hebdo at freedom of speech rally
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
Excellent Salary : Austen Lloyd: OXFORD - REGIONAL FIRM - An excellent opportu...
Super Package: Austen Lloyd: BRISTOL - SENIOR CLINICAL NEGLIGENCE - An outstan...
£15000 - £50000 per annum: Recruitment Genius: Fantastic opportunities are ava...
Negotiable: Recruitment Genius: A Compute Engineer is required to join a globa...