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Portuguese parliament approves tax-hike budget

11-01-2012 07:24 BJT

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Portugal's parliament has approved its 2013 draft budget, which will bring about the biggest tax hikes in the country's modern democratic history.

The government says the budget is needed to keep a 78-billion euro international bailout afloat. All lawmakers present from the two parties in the coalition government voted for the budget at its first reading while all other parties voted against.

Portuguese Prime Minister Passos Coelho attends the debate to approve the 2013 budget at the
parliament in Lisbon October 31, 2012.

The bill, which includes tax hikes on income, property and a proposed new tax on financial transactions, will be discussed in committees. The final vote is expected on November 27 but the broad guidelines have now been approved.

The bill is expected to be sent to the constitutional court for checks on whether the tax hikes are fair.

Demonstrators shout slogans in front of the Portuguese Parliament in Lisbon during a protest
October 31, 2012.

 

Editor:Zhang Rui |Source: CCTV.com

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