Friday, 27 April 2012

VAT to go up next year, and alcohol and tobacco and fuel and ... you name it

De Guindos, de Santamaría and
Báñez, ministers various
SPAIN Friday used to be a good day. Not any more. It is the day of the Cabinet's weekly meeting, which now seems to bring nothing but bad news. Just some of it from today: unemployment is now up to 5.6 million, 24.55% of the working population; inflation has reached an official 2%, though anyone in the street will tell you it's more than that; VAT to go up next year, probably to 20% or more; all that, plus all kinds of other measures announced a week ago and about which we are trying to get a grip so we can tell you about them (Watch out for Adiós black money and No more cash under the counter coming soon to your favourite website - THIS ONE, DAMMIT!) 

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