Description:

The Valencia Life Network reports....

Practically every town hall in the Valencian Community is having a very hard time trying to get together a budget for 2010, due to a considerable lack of finance, both from local taxes and from the Valencian Government.

It was 1999 when the then-President of the Autonomy Eduardo Zaplana signed an agreement with the Valencian Federation of Municipalities and Provinces to the effect that the Federation would receive three hundred million Euros annually from the Valencian Government as a sort of aid package to offer financial help to towns that were in financial difficulties, and it appears that not one cent has been handed to the Federation over the last ten years.

In general it is believed that local budgets will be at least 20% lower in 2010, all but removing the possibility of any town to undertake investments for the future.

Get the NEWS every day - subscribe to News on Guide2Valencia using our RSS feed!

What is an RSS Feed?

Or join us as a member and receive a monthly newsletter.

Check out Guide2Valencia for Property, Accommodation, Events, Things to Do, News, Classifieds, Local Attractions, plus Business Listings.