IMF & PORTUGAL

[ANDY]

http://economico.sapo.pt/public/uploads ... 5-2011.pdf

[martin]

excellent posting, thanks for the heads up which from I can see means taxes are going up while what ever benefits do not

and I wonder who thought this one up...
"24. Increase excise taxes to raise at least EUR 250 million in 2012. In particular by:
i. raising car sales tax and cutting car tax exemptions"

eg a new citroen in messines is for sale at 23000 meantime in uk (with 20 per cent vat) its 13000 odd...so the other 10000 is local tax...and they want to increase the tax!!!

[martin]

and its going to be painful for two years

see here
http://www.telegraph.co.uk/finance/fina ... antos.html

[pete-flint]

I remember back in 1965, the then U.K. government changed purchase tax and loans etc. for cars and not a car got sold for about two years, they were stood in fields for ages. When they were eventually sold, they were rotting away through being standing for so long.
Governments come up with some very impractical ideas when pushed to come up with a "quick fix", it is going to be hard on the Portuguese people, having had the same as the Irish,E.U. money pouring in left, right and center. The bubble has burst and the rocky road to recovery will be long and hard. Where will the "Developers" who undoubtedly made loads of money out of it all be ?? Don't think they will be dipping into THEIR pockets to help matters along !!