Mallorca: €45m to keep Balearic public works moving
In Palma, Mallorca, Balearic Islands, the regional government plans to put 45 million euros towards keeping public projects across the islands from stalling as costs rise. Regional president Marga Prohens announced the plan on Monday, 9 November, after meeting business and social representatives to discuss the impact of the Middle East crisis. The money would let the government update prices on public works contracts already under way.
Projects at risk
Prohens said the funding is intended to protect work on schools, health facilities and care homes, as well as water and rail projects. Rising costs could otherwise leave some projects unfinished.
The 45 million euros forms part of a new 125-million-euro package. It follows an earlier package, approved in April, that also included money to adjust public contract prices.
More help from January
The new measures are due to start on 1 January next year. They include 50 million euros to help businesses and self-employed people access funding, plus 25.25 million euros in direct aid. Of that direct aid, ten million euros is planned for the primary sector, 7.6 million euros for transport and 7.65 million euros for industry, construction and trade combined.
Families with variable-rate mortgages are also set to receive help. At ports managed by the Balearic port authority, Ports IB, fishermen would pay no port fees, while fees for other businesses would fall by 50%. Prohens said the regional government could act in sectors such as transport and construction, but could not change or scrap value added tax on basic foods.
Source: Europa Press / Mallorca.com