RAJOY’S GOVERNMENT has announced that the standard VAT rate is to rise from 18% to 21% this weekend as part of the cuts designed to save €65 billion by 2015. It is estimated that the increase will affect the average household expenditure by 415€ to 600€ according to consumer organisations OCU and CEACCU. Both the OCU as CEACCU warned on Wednesday that estimates are based on the latest data from the Household Budget Survey compiled by the National Institute of Statistics: the real impact on families’ pockets will be revealed by the publication of new standards.
“Whatever the final figure, what is clear is that this rise will be a brake on household consumption - already hard hit by the effects of the crisis,” said a spokesman for the OCU. FACUA-Consumers in Action has criticised the adjustment measures, saying, “Eroding the purchasing power of consumers makes them poorer.”
12 July 2012
Written by
RTN Reporter
IVA (VAT) increase shakes consumers
-
font size
decrease font size
increase font size
- 1 comment
Rajoy in Congress yesterday
1 comment
-
Comment Link
13 July 2012
kelvin meyler
Again its the less well of who will feel the pain more so than the privileged government members. when oh when will these people in government learn the more you increase things the less people buy.
Leave a comment
Make sure your comment do not break our terms and conditions, Otherwsie the comment will be removed.
