Parliament approves Spain’s first austerity measures

SPAIN’S parliament has approved the new conservative government’s first austerity measures, which aim to rein in the country’s swollen deficit with €8.9bn in spending cuts.

The measures, which also include income and property tax hikes, were approved by 197 deputies in the 350-seat lower house, where the ruling Popular Party has an absolute majority of 185 seats after a landslide election win in November.

Finance Minister Cristobal Montoro said the measures were severe but necessary, owing to what he called the mismanagement of the economy by the former socialist government.