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France to get two more years to cut deficit: EU's Rehn

May 7, 2013 12:55
BRUSSELS (Reuters) - France is likely to be given two more years to reach its budget deficit goals, the EU's top economic official said on Friday, following in Spain's footsteps as the euro zone relaxes its strict austerity policies. "In France, the recovery is now expected to be delayed," EU Economic and Monetary Affairs Commissioner Olli Rehn told a news conference. "Considering the economic situation, it may be reasonable to extend the deadline by two years and to correct the excessive deficit at the latest by 2015 in France," he said.

Dijsselbloem attacks EU financial tax plans

Agence France-PresseMay 7, 2013 11:43
Dutch Finance Minister Jeroen Dijsselbloem, who also heads the single currency eurozone, said Tuesday his government will fight current plans by 11 EU states to implement a controversial tax on financial transactions (FTT). Taking questions from a European Parliament economics committee, Dijsselbloem insisted he was speaking in his capacity as a national finance minister and not as Eurogroup chairman.

Czech opposition wants higher corporate taxes, investment boost

May 7, 2013 11:29
By Jan Lopatka and Robert Muller PRAGUE (Reuters) - The Czech center-left opposition plans a 30 percent tax on utilities and banks to bolster the public finances which it fears could contain a multi-billion euro hole, the possible next finance minister said on Monday. Jan Mladek, an economist who holds the finance portfolio in the Social Democrat Party, told Reuters he would stick to current deficit targets but said the budget could be severely undermined by poor handling of European Union subsidies.

Analysis: Mexico aims to overhaul tax system, raise revenue

May 7, 2013 11:03
By Krista Hughes MEXICO CITY (Reuters) - Tax breaks for attending "civic values" courses, tax-free sales of second-hand furniture, special treatment for call centers and an informal economy employing six out of 10 workers are all in the line of fire as Mexico prepares a long-awaited tax overhaul. An analysis of budget data shows Mexico's extensive network of tax breaks and stimulus programs generate costs equal to about half the taxes actually collected.

Factbox: Key facts about Mexico's tax system

May 7, 2013 10:44
MEXICO CITY (Reuters) - Mexico's new government has promised a comprehensive review of its tax system, to be announced in the second half of 2013 along with an overhaul of energy policy. Here are some facts about the country's tax system: * Mexico received 1.3 trillion Mexican pesos ($107.5 billion) in net tax revenue in 2012, equivalent to 8.5 percent of gross domestic product (GDP) and split roughly 60/40 between income and sales taxes.

Missing tax deadline can lead to benefits being cut, even for those owed refunds

The Canadian PressMay 2, 2013 14:30
MONTREAL - Canada's annual last-minute tax filing panic has ended. But for about two million citizens and residents, the clock has begun to tick on penalties, interest charges and the possibility of having government benefits cut off. Each year, about eight to nine per cent of the 27 million Canadian taxpayers miss the April 30 deadline. Some "late-filers" aren't pressed if they anticipate a refund while others may not be too worried about the initial five per cent penalty if they are just a few days late.

Mexico's economy grows 1 pct in 1st qtr.

Agencia EFEMay 1, 2013 16:16
Mexico City, May 1 (EFE).- Mexico's gross domestic product grew at an annual rate of 1 percent in real terms in the first quarter of this year after expanding at a 3.2 percent rate in the final three months of 2012, the government said. The economic growth numbers were included in reports on the economy, public finances and public debt submitted by the Finance and Public Credit Secretariat to Congress.

Alberta wants to recoup jail guard strike costs, suspend union dues collection

The Canadian PressMay 1, 2013 14:01
The Alberta government plans to recoup its financial losses from an illegal strike by jail guards and stop deducting dues for the largest union in the province, a move that could hobble the massive labour group. Premier Alison Redford said the almost five-day walkout by guards cost taxpayers $1.3 million per day and Albertans should not be on the hook for an unlawful job action.

New PM vows to save Italy from austerity

Agence France-PresseApril 29, 2013 18:16
Italy's new Prime Minister Enrico Letta said Monday his coalition government would act fast to reverse an austerity policy he argued was killing Italy and called on Europe to become a motor for growth. "Italy is dying from austerity alone. Growth policies cannot wait," Letta said during his inaugural speech to parliament, under the watchful gaze of European partners. The recession-hit country, effectively rudderless since an inconclusive election in February, is under pressure to act fast to tackle social, economic and institutional ills.

Alberta jail workers vow to continue a wildcat strike over safety conditions

The Canadian PressApril 29, 2013 16:04
EDMONTON - Alberta prison guards showed no signs of flinching Saturday in the face of a labour board ruling declaring their wildcat strike illegal and the province's deputy premier claiming inmates were trashing at least one jail. Guy Smith of the Alberta Union of Provincial Employees says the guards at the Edmonton Remand Centre and another facility in Fort Saskatchewan were vowing to continue their strike until safety concerns are addressed.
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