Portugal’s President Cavaco Silva has passed the 2014 State Budget which will increase taxes and income cuts for those in Portugal who have an income.
The President did not forward the budget to the Constitutional Court to be assessed he did decide to sent it on for checks as to the constitutionality of its contents, to avoid challenges from affected parties.
The 2014 budget outlines the government's wish list for an economic growth rate of 0.8%, a deficit dropping to 4% and an unemployment rate rising to 17.7%.
The communist opposition party commented that the budget will produce more hunger in the country and only is good news for bankers.
The communist politician Armando Miranda criticised president Cavaco Silva of cozying up to the bankers and big business and of passing a budget that is against the constitution, it will "exacerbate unemployment and poverty.”
"We think it's good news for bankers, the big economic groups that are parasites on the country's wealth. But it is bad news for those who create the wealth, workers, pensioners, small and medium entrepreneurs," said Miranda.
"In the year 2014 there is bad news for the country in general. Increasing the purchasing power of the Portuguese continues to be seen as the enemy of economic development and not, as it should be seen, as an ally," he added, regretful that the president did not pass on the budget for review by the Constitutional Court.
