Madrid move to boost economy
[tNZPA-Reuter Madrid »j The Spanish Government [■announcing a package of .[measures to rejuvenate the has called for a .[collective sacrifice from ill [[Spaniards to ensure the , [country’s futu.e well-being and the consolidation of democracy. j But it has made clear that [the hardest hit will be those [who can most afford it. | Prominent among the measures, announced after a [long Cabinet meeting and (designed to supplement the ‘devaluation of the peseta a; fortnight ago by almost 10 ,per cent was a wide-ranging I; [tax-reform bill.
w I, The Spanish economy ha; I [long been bled by tax eva jsion, which will be severeh i punished if the bill is ap proved by the new Parlia ■ ment. There will also be a new health tax and a surtax m: the highest paid. At least part of the increased revenue will go tn fighting unemployment, ■standing at six pe. cent of . the work-force, or 800.00(1 without work. The fight against inflation, [running at almost 30 per • cent a year was “crucial, ur [gent, and of top priority.’ the Government said.
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Press, 26 July 1977, Page 8
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183Madrid move to boost economy Press, 26 July 1977, Page 8
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