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Europe Live Sunday 26th May 2013

Spain: adoption of a further austerity measure

20th February 2012

On 17th February the Spanish government approved a further austerity measure as part of its goal to reduce the public deficit by bringing down executive salaries in government companies by 25% to 30% on average. State owned companies will therefore be divided into three categories according to size: in the biggest of these the maximum salary will be 105,000 euros per year, for average sized businesses the limit will be set at 80,000 and the smallest will be restricted to 55,000 euros maximum.

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