17 April 2010

CHILE: Pinera To Raise Taxes To Pay $8.4 Billion Of Quake Costs.

REUTERS/    President Sebastian Pinera says he will raise $8.4 billion needed to help rebuild towns and infrastructure after massive earthquake damage by tapping foreign markets, copper-boom savings and hiking taxes on companies, mining and tobacco. Chile's mining industry escaped most quake damage so the government will seek higher royalties. The government estimates total costs for rebuilding at $30 billion USD.