Protests convince Portugal government to reconsider tax rises

The Portuguese government have made a U-turn on a decision to increase taxes.

They have instead agreed to look for alternatives after huge anti-austerity street protests.

The government had planned to raise social security contributions next year from 11% to 18%, to meet the conditions of Portugal's international bailout.

Portugal was recently given an extra year to reduce its deficit, following the latest quarterly review by international lenders overseeing its €78bn bailout.

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