The Spanish government will exhaust energy companies and banks to finance anti-inflation measures

Extra charges on the extraordinary profits of major energy companies and banks, which profit from higher prices, and new aid for consumers and the most modest families, who suffer from it: Spain’s prime minister, socialist Pedro Sanchez unveiled, Tuesday, July 12, during a debate on the state of the nation In Parliament, about the measures he intends to take in the coming weeks to deal with the accelerating inflation, which again reached 10.2% in June in the Kingdom. While anger grows over the rising cost of living, the head of government has demonstrated his determination to continue his policy of supporting families by implementing “fair distribution” The cost of the crisis.

This government will not tolerate companies or individuals who enrich themselves at the expense of the majorityannounced on the podium, before knocking that he would do everything.” To defend the middle class and workers of this country. »

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Among the measures announced, the minimum pension and minimum living allowance will have to be increased again, after a 15% increase approved in April. An additional aid of €100 per month will be paid to scholarship holders over 16 years of age, between September and December. Nearly a million young people are affected. A new reduction in the value-added tax on the electricity bill must be added to those taken in recent months, and the discount of 20 cents per liter on the price of fuel will be extended until December. In the face of housing problems, rent increases will remain limited to 2%, as approved in April, and 12,000 homes will be built in the suburbs of Madrid, on former military land, 60% of which will be public housing.

“New taxes on demand”

To partly finance these social measures, Mr. Sanchez has announced the prospective approval of the Extraordinary Profit Tax for the large electricity, gas and oil companies, in order to raise €2 billion annually over the next two years. “We often talk about big profits that fall from the sky, but they come from the pockets of consumers,” He insisted.

And unexpectedly, the Prime Minister also revealed the creation of a An exceptional and temporary tax for large financial entities that have already begun to benefit from higher interest rates. Pending details of the measure, the goal of which is to raise 1.5 billion euros a year over the 2022 and 2023 financial years – more than 10% of profits made over the past financial year – shares of major Spanish banks plummeted in the stock market.

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