Spain to Focus on Spending Cuts, Not Tax Hikes

Reuters

Spain's Deputy Prime Minister Soraya Saenz de Santamaria said on Thursday the budget for 2013 would focus on cutting spending rather than hiking taxes, and the government would pass 43 new laws to reform the economy over the next six months.

While presenting draft for the 2013 budget she also said Spain would establish an independent fiscal authority to help oversee its deficit cutting promises.

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