Calderon holds out hope of no new tax hikes in his 2011 budget
By Cyntia Barrera Diaz
Reuters
Mexican President Felipe Calderon said he did not expect to propose tax increases in the 2011 budget after his initiative to boost government revenues for the current year was rejected by opposition parties.
"I foresee that in general there won't be a proposal to boost taxes ... for the 2011 budget," Calderon said in an interview with Radio Formula this morning, Tuesday.
The president introduced sweeping new taxes in last year's budget, which drew stiff criticism, but have been credited by administration officials with lessening the economic crisis.
In the radio interview, Calderon, who is due to submit his 2011 budget plan in early September, also said that a main factor behind Mexico's slow economic recovery following a deep recession was weak consumer confidence.
"The consumer is skeptical. There is a negative feeling and that is hurting consumption," he said.
