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Sunday, September 27, 2015

Restaurants a test of Portuguese appetite for austerity

By Axel Bugge LISBON (Reuters) - Winning the vote of the cooks and waiters dishing out succulent grilled fish and spicy chicken at Portugal's restaurants could make all the difference in the country's tight Oct. 4 election. It was also among the hardest hit by austerity imposed by centre-right premier Pedro Passos Coelho as part of efforts to shake off the sovereign debt crisis that also afflicted Spain, Greece and Cyprus. "The VAT increase was the last straw for many businesses," Jorge Costa, who runs the traditional 'Leitaria Anunciada' restaurant in central Lisbon, said of a 2012 hike in value-added sales tax to 23 percent from 13 percent which Passos Coelho's government said was needed to plug a soaring budget deficit.


READ THE ORIGINAL POST AT uk.news.yahoo.com