Bank condemns new tax will weigh on economic recovery

this Banking sectorrepresented by the main associations of AEB and CECA, condemned this Thursday that the new banking tax will be an obstacle to the economic recovery and will create employment and will not be able to achieve the goal of combating high inflation.

The Spanish Banking Association (AEB) and the Spanish Confederation of Savings Banks (CECA) said in a joint statement, The implications of the new tax for financial stabilityin a context marked by rising prices and geopolitical tensions.

In this sense, it reminds us that the sector makes a “relevant” contribution to the Spanish economy, as well as to the sustainability of public expenditure through certain taxes.

In addition, they assure that the measure recorded at the Congress of Representatives by the PSOE and United We Can Parliamentary groups today could hinder the organizations’ ability to lend as well as their competitiveness in the single European market.

However, CECA, which brings together former savings banks that have been converted to banks over the years, such as AEB and Caixabank, which represent Spanish main banks – Santander, BBVA, Sabadell or Bankinter. Willingness to engage in dialogue with Government and parliamentary groups during the processing of the regulation.

Both associations, which claim to have studied the technical details of the new regulations, reminded that the negotiations should be conducted on the “fundamental principles” of the Spanish tax system, such as “equality, non-discrimination and economic capacity”.

Source: Informacion

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