Spain's socialist government announced one of the most stringent of budgets for several generations, raising taxes for the rich and reduce costs. Spain intends to reduce its deficit from 11.2% last year to 6% next year.France's government is also considering fiscal savings. Immediately, two newspapers Echos and Figaro reported on Friday that the French government plans to cut the budget deficit next year to 60 billion euros to 92 billion is a sharp drop reflects an increase borrowing this year to finance long-term financial investment and research programs, increased fees from income taxes, a 10-billion. reduction of tax deductions and reduce operating costs. This will reduce the budget deficit to 6% of GDP.
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