August 5, 2021

Calviño avoids pronouncing on a mortgage reform in an act of Santander | Economy

Calviño avoids pronouncing on a mortgage reform in an act of Santander | Economy



The Minister of Economy and Business, Nadia Calviño, has avoided pronouncing itself on a possible reform in the Mortgage Law that is transacted in the Congress, after the change of criteria of the Supreme Court, during his participation at the International Bank Conference of Banco Santander, which takes place this Wednesday in Madrid. He only made a reference to mortgage regulations to say that the Government seeks to protect clients and with that, "legal security for entities" will be offered. "The Government will guarantee legal security and take measures to solve the problems of society," he summarized.

For its part, the president of Santander, Ana Botín, nor did he make any reference to the new position of the Supreme Court, which has determined that the client is responsible for the tax on documented legal acts. Booty has charged against the great technology for "not paying a fair share of taxes" and has urged to act and establish fiscal rules for each sector, whether traditional or digital, pay according to where it generates its benefits.

Only then will these companies contribute "in a proportionate manner" to development, he explained during the opening of the Conference in which he has asked to end tax laws of the twentieth century in the digital era.

In addition, the top executive of Santander has insisted on his idea that "neutral laws" are needed, which treat companies equally if they develop the same activities; a criticism by the regulation to the bank in front of the new competitors like the technological giants.

Technological taxes

Calviño also devoted much of his speech to technology and said Wednesday that he expects that the tax on certain digital services, known as the 'Google tax', will reach Congress in the coming weeks. During his speech at the Conference, he indicated that this tax is currently in the public hearing phase.

The minister seemed to pick up the glove launched by Botín when recalling that the creation of this tribute is part of the modernization of the tax system that has been proposed by the Government with the aim of gradually adapting it "to the reality of the 21st century" and making it "more progressive and fairer".

Calviño has also affirmed that inequality and poverty are also burdens for the growth of the Spanish economy, so, beyond reasons of social justice, considers that acting to raise the cohesion of Spanish society is "paramount" from a economic and political point of view. "Inequalities are the perfect breeding ground for populism and extremism," said the minister.

In this sense, he demanded that the bank be responsible for the development and implementation of new technologies so that they can be channeled into financial inclusion that benefits the entire society. He addressed the need to promote directives that promote consumer safety, "that guarantee transparency and accountability, which is a key element for the entities, as the president of Santander has pointed out: benefits the clients and benefits everyone", summarized.

Regarding the progress of the Spanish economy, Calviño has indicated that it will continue to grow at "robust" rates, as reflected in the "prudent" forecasts prepared by the Government and which point to a GDP growth of 2.6% for this year. and of 2.3% for 2019.

"The economic data allow us to be optimistic about the future of our country, but they also demand that we be responsible," said the minister, who added that responsibility is needed to overcome the imbalances that the economy still has, to think about the long term and to meet citizens.

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