Spain’s financial system minister guidelines out tax hikes whereas restoration nonetheless fragile By Reuters


© Reuters. FILE PHOTO: Informal meeting of ministers for economics and finance in Berlin

MADRID (Reuters) – Spanish Economy Minister Nadia Calvino on Friday ruled out any tax hikes in the near future, saying the priority now is to stimulate the economy and encourage job creation following the effects of the COVID-19 pandemic.

Budget Minister Maria Jesus Montero said earlier this week the government was considering increasing corporate and property taxes but did not say when.

“All institutions agree (in our opinion) that it is not time to raise taxes until we have a clear and strong recovery,” Calvino told reporters after meeting her colleagues from the European Union.

Current expansionary fiscal and monetary policies aim to accelerate the recovery from the pandemic-triggered crisis, she said, adding that she believes the EU-wide cap on government deficits should remain suspended until 2022.

Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. As a result, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data.

Fusion Media or any person involved with Fusion Media assumes no liability for any loss or damage caused by reliance on the information contained on this website, such as data, offers, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible.

Leave A Reply

Your email address will not be published.