Property Point Marbella – Shock Economy Measures in a bid to calm markets

Spain's Prime Minister Zapatero announced a series of surprise measures on Wednesday including tax cuts for small and medium sized businesses and the abolition of the obligatory fees they had been paying to the chambers of commerce. Obstacles for setting up new companies will be removed along with some of the costs with the aim of being able to set up a firm in 24 hours. 

The Government will also abolish the monthly subsidy of 426 Euros, which is paid to unemployed people who are not receiving any other benefits. This measure will take effect in February next year. This subsidy, introduced in August 2009 to help those whose entitlement to unemployment benefits has run out, has cost 1.392.8 million euros.

 To help people back into work, the employment agency will take on an extra 1,500 job advisors and rules permitting private agencies will be relaxed.

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For information on the best properties to rent or buy along the Costa del Sol go to www.propertypointmarbella.com