The Spanish Government has vowed to prime the pump by spending its budget surplus on public works, such as high-speed rail. It has also confirmed plans for a €400 rebate to taxpayers from July, which it said would boost the fiscal stimulus. BBVA estimates that it could be worth about 1 per cent of GDP.
At least the Spanish Government is lucky enough to have a surplus to spend in this slowdown, unlike Mr Brown who has spent everything and created a huge deficit, and intends to tax as much as he can, yet alone give a tax rebate to taxpayers. 🙄