The new accounts for next year have been drawn up from the bailout of Banif bank which has come at a cost of at least 2.25 billion euros to the taxpayer and which will see the budget deficit rise from 3 to 4 percent.

Two of the government’s leftist partners, the Communists and the Greens, have already said they would vote against the revision.

This leaves the Socialist requiring the votes of the centre-right PSD and CDS to pass the budget or be forced to call off Banif’s sale to Santander.