Since 2010 until 2012 in Portugal, Families increased net lending, Non-financial corporations decreased net borrowings and General Government? After decreased net borrowings in 2011, increased it in 2012!
The resultant in Total Economy was a net lending of 674 Millions € in 2012 versus a net borrowing of -15490 Millions €. Why? Because Government option by taxation with cumplicity of Troika create vicious circles. If the option was decrease public expenses that don´t create value Portugal don´t have so many companies and persons with insolvencies (7763 in 2012, 1,4% of the total of active companies, +27,7% over 2011, source Coface Serviços Portugal http://www.cofaceservicos.pt/FAS?nome=Estudo_Insolvencias_Constituicoes_CSP_Anual_2012.pdf) and unemployments (952200 in first quarter of 2013, 17,7% of active population, +16,2% related with first quarter of 2012, source INE).
Only now the incredible Government look to some incredible public expenses, after two years of incredible management of crisis: incredible!
Finally Government approved the basic principle that a company or a person can´t financing General Government and European Union by a Value Added Tax (TVA) not paid by clients. But only for turnover lower than 500.000 €! Unbelievable! Government argument with a limit that don´t implicate an intervention of European Union. But why don´t negotiate that? Incredible!!
Another badly position of Government is about not create a limit to the public pensions and want prejudice lower levels, one more time create a suplementary pressure over «midle class of revenues» and protect the higher levels with pensions conquered by political society or by generations after revolution of 1974, in peculiar historical conditions that don´t exist in the present and in next decades, with a great injustice inter generations.
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