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 difference between a migrant and refugee, in one sentence
- 2 Miley Cyrus calls out hypocrisy of women’s nipples being taboo
- 3 iPhone 5c to be discontinued, no iPhone 6c to replace it
- 4 Jozef Wesołowski: Former Catholic archbishop found dead ahead of child sexual abuse trial
Spain accused of 'provocation' after letting Russian submarine refuel off Gibraltar
Allonautilus scrobiculatus: World's 'rarest' creature spotted for only the third time ever
Miley Cyrus address Robin Thicke VMA controversy: ‘He wanted me as naked as possible, but I got the heat because I’m a woman’
Miley Cyrus calls out hypocrisy of women’s nipples being taboo
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Labour leadership: Jeremy Corbyn accused of 'deluding' young supporters with 'claptrap'
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Iain Duncan Smith calls for urgent ESA overhaul as part of drive to cut down welfare costs
£18000 - £30000 per annum: Recruitment Genius: A Sales Executive or Senior Sal...
£40000 - £55000 per annum: Recruitment Genius: This is an exciting opportunity...
£22000 per annum: Recruitment Genius: This industry leading company produces h...
£20000 - £40000 per annum: Recruitment Genius: This IT provider for the educat...