Thus, the center-left Executive is going “to launch a tax on the extraordinary profits of the large energy companies” that will allow the State to collect some “2,000 million euros” this year and the same next year, said Sánchez, who He spoke of collection objectives and not of precise aliquots. In addition, a temporary tax will be imposed “on large financial institutions, which are already beginning to benefit from interest rate hikes”, with a duration of two years -2022 and 2023- and which will allow “to collect 1,500 million euros a year,” Sánchez said.
examples
Several other European countries have in recent months announced exceptional levies on corporate profits stemming from inflation, particularly energy groups, which posted very high profits last year. For example, the UK introduced a one-off 25% tax on the profits of energy giants to help the most disadvantaged households. Italy, for its part, also decided to tax an additional 25% on the profits of large companies in the energy sector. Greece and Hungary also joined the trend. Spain has adopted numerous measures since last year to try to contain inflation, which reached 10.2% year-on-year in June, its highest level in 37 years. These include fuel subsidies, reduction of VAT on electricity and a rise in pensions and pensions. With an improvement in collection, the Government intends to limit the rise in prices to a rate of 6% per year by the end of 2022.
In the eurozone, inflation reached an all-time high of 8.6% year-on-year in June.
“Since prices began to rise in September last year, Spain has mobilized close to 30,000 million euros” to support companies and their consumers, that is, 2.3% of gross domestic product (GDP), said Sánchez. .
russian gas
The crisis is becoming more acute throughout Europe due to the cutoff of Russian gas flowing through the Nord Stream 1 gas pipeline, with a special impact on Germany. Although this is part of a long-announced technical stoppage that should last only ten days, the deepening of the war in Ukraine raises fears that it is a long-term retaliation for Western sanctions.
The European Union (EU) is already preparing for the possibility of a boreal winter without sufficient fuel. Thus, while Pedro Sánchez yesterday urged consumers to save as much as possible, the German Olaf Scholz analyzes activating the maximum level of the current alert, which establishes compulsive rationing.
Source: Ambito
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