Madeira Secures Funding, Highlights Concerns Over Inequality
Madeira is set to receive significant financial support, as highlighted by local authorities amid ongoing discussions about equity. The recent budget proposal, introduced by the Portuguese government, has garnered attention for its implications on the region.
Key Funding Allocations for Madeira
Miguel Albuquerque, the President of the Regional Government of Madeira, expressed optimism regarding the proposed national budget. In a recent meeting with Luís Montenegro, they established key funding measures to address the region’s financial needs.
- National Cohesion Fund: Madeira will benefit from a National Cohesion Fund worth €79 million.
- Additional Compensation: An extra €50 million will be allocated from the national budget to cover shortcomings in existing legislation.
The Need for Legislative Reform
Albuquerque emphasized the importance of establishing a new regional financial law. This reform is crucial for addressing pending technical issues such as mobility subsidies and tax regulations impacting local institutions.
In addition, he highlighted the urgent need to pay outstanding debts related to the Public Security Police (PSP) and the National Republican Guard (GNR).
Advocating for Equality in Budget Allocations
Albuquerque called for equitable treatment between Madeira and the Azores in national budget allocations. He advocates for a sustainable and fair financial planning approach to ensure both regions receive the support they need.
As the discussions continue, the focus remains on building a fair financial framework that addresses the unique challenges faced by Madeira while fostering growth and stability.
