Spanish employees’ wages fall by 5%
Socialist government in Madrid will cut 5 percent of the salaries of public sector employees starting the 1st of June, AFP reported.
Spanish employees’ wages will be frozen, year next, also announced Prime Minister Jose Luis Rodriguez Zapatero today.
These austerity measures have been taken by the Spanish government to reduce the deficit. The plan was presented in the Parliament today by Zapatero in Madrid.
Moreover, these are not the only measures.
Next year, the Spaniards will suspend recalculation of pensions, eliminating the 2,500 euros compensation for newborns (so-called baby check) to from January 1, 2011, adjusting the compensation scheme of drugs, suspension of payment of retroactive disability allowance, and setting a maximum period of six months to settle the claim, reported Agerpres.
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Posted by AnnabelleLion on May 12 2010 Filed under Finance. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
