Palma.—The Balearic government would not have welcomed the response from the local business community.
The President of the Confederation of Balearic Business Associations (CAEB), Josep Oliver, said yesterday that the new wave of tax hikes are “unacceptable.” Oliver claimed that the so-called ‘health cent' will restrict the competitiveness of the local business sector further and could lead to further jobs being lost. “The health cent tax is not only going to hit businesses but also consumers. It's going to put the cost of living up for the general public and restrict small business's ability to reinvest and expand. “Increasing the fiscal pressure on business and consumers is not the right road to be going down, it will merely choke consumer confidence further and hamper economic competitiveness.”

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