Madeira Secures Funding and Highlights Inequalities
Miguel Albuquerque Welcomes State Budget Proposal for Madeira
State Budget Proposal Includes Increased Funding for Madeira
In a key development, Miguel Albuquerque has expressed approval of the new State Budget proposal concerning Madeira, unveiled today by the Portuguese Government. This proposal introduces significant fiscal measures aimed at benefiting the region.
Key Financial Provisions for Madeira
Following discussions with Luís Montenegro focused on the proposal’s analysis, a commitment was made to establish a National Cohesion Fund worth €79 million for Madeira. This agreement comes despite challenges posed by regional finance laws.
In addition to the Cohesion Fund, the State Budget confirms an extra allocation of €50 million. This compensation aims to address legislative shortcomings that initially overlooked Madeira’s financial needs.
Advocacy for a New Regional Finance Law
Albuquerque emphasized the urgency of a revised regional finance law to streamline fiscal operations. He also highlighted several technical issues, including:
- Mobility subsidies
- VAT adjustments for social institutions (IPSS)
- Debt settlements with the PSP and GNR subsystems
Calls for Fair Economic Planning
Albuquerque’s address concluded with a call for balanced treatment between Madeira and the Azores in budget allocations. He advocates for a sustainable and equitable financial strategy, ensuring both regions receive fair economic planning.
This proposal marks a promising step towards improving Madeira’s fiscal framework, spotlighting the need for continued dialogue and structural reforms.
