Madrid, December 28 (EFE) .- The Finance Minister Cristobal Montoro said that the Government’s objective is that the tax burden does not exceed the threshold of 38 % -39% of GDP, “similar to 1998 and 2002 levels, when the PP adopted the previous tax cuts”.
In the article “A tax reform to win the future” published today in The World Montoro said that the tax cuts, which come into force on January 1, seek to act in the economy, “the short, medium and long term” that Spain is a “stronger and united” country, capable of generating growth and employment “steadily over time.”
It also maintains that the improvement in the income of workers and freelancers have an immediate effect on consumption.
Upon trial, a higher disposable income coupled with the improving economic outlook, allows citizens to resume spending and investment decisions that the crisis had been postponed.
Montoro says this will be reflected in a boost of company results, which may arise grow and create jobs, “which will make increasingly more people with purchasing power and increase the tax base and tax revenue to sustain the welfare state.”
It also underlines that tax reform stimulates savings and disincentives keeps borrowing in the economy, both citizens and businesses.
In addition, the Government emphasizes that uses “in a determined manner “to make social policy.
The Minister stressed that this is the tax reform that needs to Spain to exit the crisis and the need to compensate the Spanish stage” so long and painful “.
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