Spain to unveil $8.6b stimulus package

Spain's prime minister said his government will unveil a stimulus package worth 6.3 billion euros ($8.6 billion) to boost competitiveness. In another sign that the country is emerging from five years of economic hardship, Mariano Rajoy said his plan "aims to mobilise" 2.7 billion euros from the private sector and 3.4 billion euros from the public sector. He said on Saturday corporate tax would be cut from 30 per cent to 25 per cent. Rajoy added that details will be revealed at a cabinet meeting on Friday, according to a news agency.