Madeira first draft budget sees €1.7B spending

in World · 17-01-2020 01:00:00 · 1 Comments

The government of Madeira, the Portuguese region’s first governing coalition between the Social Democratic Party (PSD) and People’s Party (CDS-PP), has submitted its draft budget for 2020

The document, which foresees overall spending of around €1.7 billion, was delivered to the president of the regional legislative assembly, José Manuel Rodrigues, by the deputy premier, Pedro Calado of the PSD, and the regional secretary of economy and leader of the CDS-PP in the region, Rui Barreto.
The bill is to be debated in the assembly between 20 and 23 January.
On 2 January, following a meeting of the regional cabinet, Calado – who is number two in the regional government led by the PSD’s Miguel Albuquerque – had already revealed that the budget for the year would foresee around €200 million more spending than in 2019, focussed on strengthening economic activity, reducing the tax burden on

businesses and house-holds as well as unempl-oyment, and maintaining welfare policies.
At the time, he also pledged greater support for education and health (with 5.7 percent more spending than in 2019), with a start on the new Madeira Central Hospital, to make the most of European Union regional support funds and strengthen public investment.
This is the first budget after the regional legislative elections of 22 September 2019, which for the first time in the democratic era since 1976 saw the PSD lose its absolute majority, leading to coalition between it and the right-wing People’s Party.



Comments:

Reducing the tax burden is good news for everybody including foeign investment

By A.J.F.DE NOBREGA MEDIACAO IMOBILIA L.D.ARIA LDA from Madeira on 29-01-2020 04:50
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