The Government will review the extraordinary banking tax, given that the exceptional conditions that justify its application have changed and it is necessary to reformulate its content, the Minister of Economy, Commerce and Business Support, Nadia Calviño, assured this Friday. in statements to Antena 3.
This message has caused a stir among the banks themselves, who did not expect it according to the sources consulted, and also among government partners. The second vice president and Minister of Labor, Yolanda Díaz, has reminded the minister in Latin that “what is agreed upon is binding.” “Pacta sunt servanda,” she told him, alluding to the coalition agreement between PSOE and Sumar.
Calviño has assured that the modification of the tax will be addressed “taking into account that the circumstances have changed” and we are no longer facing the same interest rate scenario.
“It seems to me that it is time to review and see if we have to adjust some of the parameters in the new scenario in which we are, in which there is no longer such a rapid rise in interest rates and such a rapid rise in energy prices,” added the minister.
Calviño has defended the extraordinary taxes in any case and has assured that the Government “did very well” in placing them “at that time.” Both figures, he assures, “have complied with the collection planned by the Treasury and served as an example for other European countries”, so “it was a good decision.”
“Just as now it seems to me that it is time to review and see if it is necessary to adjust. We have always said it, that we were going to analyze these two taxes to see if they should be maintained for the future and with what parameters, in so that they continue to have the same positive impact from the point of view of collection and from the economic point of view”, he added.
The reformulation and extension over time of taxes on banks and energy companies is part of the agreements for the formation of the Government coalition between the PSOE and Sumar. In the case of energy, the Government has opened up to modifying it to encourage investments in decarbonization after Repsol announced the suspension of projects due to the new tax burden.
The government agreement between PSOE and Sumar speaks of a review of taxes to readjust them and extend them over time. “We will review the taxes on banks and energy companies with the aim of readjusting and maintaining them once their current period of application expires, so that both sectors continue to contribute to fiscal justice and the maintenance of the welfare state,” he says.
Yolanda Díaz has responded to Calviño’s statements from Bilbao saying that the investiture agreement must be “fulfilled.” “I would tell Mrs. Nadia Calviño ‘pacta sunt servanda’ (what is agreed is obligatory) and that we have just closed an agreement with the PSOE, which gave the presidency of the Government to Mr. Sánchez, in which, clearly, precisely in In times of unprecedented inflation crisis, those who have the most have the most to contribute,” he added.
