Wed. Feb 26th, 2020

IGNACIO MARCO-GARDOQUI: Lack of income


Madrid

Updated:

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Spain needs budgets. The Government says it and it is true. Those currently in force were prepared by Minister Montoro It makes a couple of glaciations and although they have parapeted us against some veleities, it is not logical that a coalition between the ultra left and ultra, ultra left (according to their own taxonomy) governs with ultra right budgets. Too much distance.

In addition, he wants and must hurry. The Sánchez’s future It hangs on the Catalan thread. A little resistant thread that can break at any time. Hangs on ERC and the fickle Republicans hang in turn on the crazy ideas of never too Honorable Torra, who in turn obeys an unstable escape. There will not be a single company in the world willing to cover such a risk. That’s why it suits him to run.

How perceptive the process has started with the spending limit where you have exercised prudence, by basing accounts on modest forecasts of GDP growth and employment. The bad thing is that this deadly horizon of the economy will reduce tax revenues. Of course, the expenses chapter grows bulky. There are so many promises to keep, so many aspirations to fulfill and so many attentions to serve that lthe expenses will rise Like the foam

So, how to balance some accounts with lower income and higher expenses? In two ways. The first, with a renegotiation of containment requirements of the public deficit imposed by Brussels. The finance minister says that the path agreed by the PP was not realistic. Of course, but that depends on the place you want to reach. The second through a tax increase whose concretion will be done in small doses to make it easier to ingest.

At the outset it assures us that it will only affect the most affluent. A statement that is false because it is impossible to comply. To check it, just ask who will end up paying the two new fees announced: some financial transactions and the digital services. They have not yet learned that taxes are incorporated into each stage of the cost chain and that the final consumer always pays for it. Who else was going to do it?

IGNACIO MARCO-GARDOQUIIGNACIO MARCO-GARDOQUI

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