Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Portugal to unveil austerity budget

 

Ap
Monday 15 October 2012 12:28 BST
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

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.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in