July 29, 2021

Multinationals and funds warn Calviño that they will lower their investment in response to government measures

Multinationals and funds warn Calviño that they will lower their investment in response to government measures


The measures prepared by the Government of Pedro Sánchez concern some of the largest North American companies in Spain. This was confirmed this morning at the breakfast organized by the US Chamber of Commerce. in Spain, in which the Minister of the Economy, Nadia Calviño, participated. During his speech, Calviño has called "counterproductive»Oppose the interests of the bank and the citizen, although it has also pointed out that« the perception of part of Spanish society »is that the bank rescue«the Spanish taxpayer has paid»To recall that a portion of the« increase in public debt »is due to« the absorption of private debt »of the financial sector, which has been" cleaned up with taxpayer money ". The minister responded to a question from the president of the American Chamber in Spain, Jaime Malet.

In the question time the microphone has passed to an audience filled with managers of large American companies in our country, who have shown the minister their concern about the measures planned by the Government. The head of Blackstone in Spain, Claudio Boada, has challenged Calviño for «The change in the lease law» that prepares the Government, in particular to raise the number of years of rent to individuals from 3 to 5 being for professionals from 3 to 7 years.

Desicentivo for rental companies

"We think that these articles that are being discussed may raise the rental price Y reduce investment», Boada pointed out in public to add that« the feeling of the fund that I represent and I know that of others is of concern with the measures, but also hope because we want to continue investing in this country», He has reviewed.

Boada also recalled the "vulture fund" sambenito that his company is carrying: "They told us that we were going to sell all the assets as soon as we could and we have been stabilizing the price of land for six years", referring to the investment close to 25,000 million euros in brick that the North American fund has acquired in Spain since 2012.

Calviño has responded that the Government wants to recover "the character of social right and access to housing»Of the rent. The Ministry of Development plans to present a decree this month reforming the lease law, in which companies remember that professionals only control 3% of the leasing market, depending on the rest.

Concern among technology

The president of Hewlett-Packard Spain and Portugal, Helena Herrero, also spoke. She pointed out to the minister that yesterday she left with "concern" of the forum organized by "Expansión" yesterday in which the President of the Government, Pedro Sánchez, intervened, and announced to eliminate bonuses in the Social Security and several measures in the labor market. «I missedn message about our role, that of companies, a "we need you" », has abounded. Precisely, the company recently reinforced its workforce and increased its investments in the world headquarters of the 3D printing business it has in the Barcelona town of Sant Cugat del Vallès.

Herrero has also told Calviño his "concern "before a measure such as «Discount of quotes» that studies the Pact of Toledo and has defended the PSOE, precisely being the technological one of the sectors with higher skilled employment and higher wages, to which a measure of this type can impact more strongly.

The minister has replied that the Government wants to "create a favorable environment for companies and startups», Without giving more details. The intervention of Calviño did not leave the business audience very convinced.


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