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Hacienda working on plans to tax the rich

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The Spanish Government is working on improving the action plan it has been developing to help the most vulnerable, this time with plans to tax the rich to help pay the less well off. The Minister of Finance, María Jesús Montero, advanced that the Executive led by Pedro Sánchez is already “working” on the possibility of creating a new temporary tax for those who have the most.

In this way, the PSOE will follow the line proposed by Unidas Podemos and is already studying the implementation of a tax that will be temporary and that would come into force as of January 1, 2023.

María Jesús Montero has been in charge of transmitting the Government’s intention to the media and, in statements to the media in the corridors of Congress, she has recognised that it is necessary to “ask for a greater effort” from those who have extraordinary benefits, such as the energy companies, and to the “higher incomes”.

The Minister of Finance has not detailed what will be the formula in which the central Executive is working to temporarily increase taxes on high net worth, justifying that “technicians must be allowed to work”.

“As has happened with taxes on energy and banking (currently being processed in Congress), we will work on a temporary formula and later the circumstances will say whether it is necessary or not to extend it,” she defended.

Despite the fact that the Government is already working on the new tax rate for large fortunes to establish it next year, the PSOE rejected three months ago the proposal that the Government partner, Unidas Podemos, raised in the Congress of Deputies.

The purple formation proposed that a new tax be applied to people with incomes greater than 10 million euro, which were established in eight brackets and marginal rates between 3.6% and 5%.

Another of the members of the Government who has spoken about the new measure in which the Treasury is working, Elizabeth Rodriguez, defended that they are now studying said tax because “many circumstances have changed.”

The number of rich people increased in 2021 in Spain by 4.4%, compared to the data of the previous year. In total, there are 246,500 people who are holders of great fortunes in the country, as reported last June.

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