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Saudi Arabia TRIPLES VAT and scraps monthly £1,000 payments to citizens as slumping oil prices and coronavirus pandemic hits the economy
- Saudi Arabia pays some citizens £250 a month, with £1000 bonuses available
- The kingdom plans to slash oil prices by 50% and triple its Value Added Tax
- Likely to cause uproar over state spending billions in plans to buy Newcastle Utd
- Economy minister said the measures were necessary to shore up finances amid a 'sharp decline' in oil revenue as the coronavirus pandemic saps crude demand
Posted by: Skidmark 2020-05-12 |
