Spain’s Socialists May Copy Dutch Plan for Taxing Wealthy
Spain has started to embrace the anti-austerity movement
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The Spanish Socialist Party, which held its ground in Sunday’s local election, plans to integrate the income and wealth taxes should it win this year’s general elections, a move to shield the middle class from tax increases.
The measure is part of a wider reform intended to balance the efforts needed to reduce the European Union’s second-biggest budget deficit, between bigger revenues and smaller expenditures, Manuel de la Rocha-Vazquez, the party’s head of economic policy, said in an interview last week. The party also will also introduce a floor for corporate taxes of about 15 percent of companies’ reported profit.