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The Executive may also approve an increase in tax on tobacco. Zapatero cancelled an official trip to Bolivia for the Ibero-American summit to chair Friday’s meeting.

The Council of Ministers of Spain on Friday is set to pass a series of anti-recession measures which will include a reduction in taxes for SMEs (Small and Medium Enterprises) , the withdrawal of a monthly unemployment benefit worth 426 Euros (for those no longer covered by their national insurance) as well as the partial privatisation of airport handlers AENA and the national lottery.

In addition, a further unexpected measure may also be passed: An increase in the tax on tobacco.

Spanish Government President José Luis Rodríguez Zapatero, who announced new measures on Wednesday , was expected to chair Friday’s meeting after cancelling a trip to Bolivia where he was to participate in the Mar del Plata (Angentina) Ibero-American summit.

The announced package of measures seeks to boost business investment and employment via a tax cut designed to benefit 40,000 SMEs, and improve tax provisions for the investment and amplification of capital to favour all businesses regardless of their size.

The Government also plans to approve plans to privatise 30% of the national state lottery and 49% of AENA, the, up until now, wholly state-owned company which manages almost all of Spain’s airports. The Government intends to put both Madrid’s Barajas and Barcelona’s Prat airports out for tender in the hope of raising 14,000 million euros .

The Executive also intends to scrap a 426 euro benefit created last year for long-term unemployed whose usual state allowance had run out.

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