After weeks of mixed messages and tensions within the right-centre coalition, Portugal's finance minister finally submitted next year's state budget to parliaments.___________________________________________________________________.Most of that is in higher income tax, taking away the equivalent of a month salary for any workers. Austerity is already weighing heavily on Portugal’s economy with unemployment hitting a new record high in September.
An hour later, he outlined key details of a document that foresees spending cuts and tax increases totalling some 5 billion Euros, almost 6.5 billion dollars.