Congress receives on Tuesday that 2016 budgets presented Montoro – Yahoo Finance Spain

Madrid, Aug. 2 (EFE) .- The Finance Minister Cristobal Montoro, presented Tuesday at the Congress of Deputies the bill of the general budget State of 2016, including an increase in social spending of 3.8% and a salary increase for public employees.

At 09:45 hours, Montoro and secretaries of Finance, Miguel Ferre; Quotes, Marta Fernandez Currás; and Public Administration, Antonio Beteta; will appear before the print media.

Later, at 10:00, the Minister will present the bill electronically, the president of Congress, Jesus Posada.

At 11:30 hours, Montoro and the heads of Finance will offer traditional press conference in which explained in detail the accounts of 2016, after the brief presentation made last Friday the Prime Minister, Mariano Rajoy, after the Council of Ministers.

2016 budgets have the particularity that this year will force Parliament to initiate its processing in August, because it is necessary to accelerate their approval before the convening of the general elections in December, traditionally the month in which they received the definitive approval of the accounts.

So, the third week of August there will be the appearance in committee of senior officials to explain the accounts department while last week the general debate be held on the floor of Congress.

The budgets for 2016, which foresee a spending ceiling of 123.394 million, 4.4% less than in 2015 53.5% devoted to social spending, up 188 130 million, or 3.8%,

Of 100 euros to be spent next year, 39 will be dedicated to the payment of pension benefits 7 unemployment and active policies and 8 other social expenses.

In addition, 14 additional euros of spending in the budgets of 2016 are aimed at contributions to CCAA and another 10 euros to pay interest on the debt.

The budget also reflected the salary increase of 1% in 2016 for public employees and the return of the remaining 75% of the bonus abolished in 2012.

Also, according to the text, tax revenues will amount in 2016 to 193,520 million before the transfer to local authorities, 4% more than in the 2015 budget.

Revenue from personal income tax will involve 75.432 million, 3.4% more and corporate income tax recorded an increase of 5.5% to 24.868 million.

The VAT revenues will grow 4% to 62,663,000, while special tax shall be paid 20,053,000 , 0.8% more.

The total non-interest income for 2016, after the transfer to local authorities will reach 134.773 million euros, an increase of 0.8% 2015 budget.

The state staff costs in 2016 will increase 4.9% to 16.839 million euros and total non-financial expenditure for the next year amounts to 157 191 000 3% . less than in 2015

The actual investments will provide 3.578 million, 4.6%, and capital transfers 8.838 million, 7% less

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