January 16, 2021

The "impuestazos" that hide the Budgets of Sanchez and other four economic news

The "impuestazos" that hide the Budgets of Sanchez and other four economic news


MadridUpdated:

1. The Government downgrades the growth forecast for this year and the next. The deterioration of the economy is already filtered in the forecasts of the Government itself. The Executive has worsened by one tenth its estimates of GDP growth for this year andThe next to 2.6% and 2.3% respectivelyand this is included in the budget draft that will be sent to Brussels throughout the day. The Government today approved in extraordinary Council of Ministers this morning the document that will be sent to the European Commission including the agreements made with Podemos.

2. The Government will raise taxes on businesses by 3,566 million. The Budgets for 2019 agreed by the Government of Pedro Sánchez and Podemos and shelled this Monday by the Executive contemplate an increase in tax collection of 5,678 million in taxes and fight against fiscal fraud to cover an increase in public spending of more than 5,000 million. The figures were detailed by the Minister of Finance, María Jesús Montero.

3. Drivers will pay 670 million for the "tax" on diesel. In particular, the Socialist Executive will progressively raise the taxation of gas oil to equate it with that of gasoline. With this measure, and according to the accounts detailed by the Minister of Finance, María Jesús Montero, the State will collect 670 million euros, which according to the Executive will not affect the transport professionals, as between carriers and taxi drivers, but logically drivers will pay.

4. Dia lowers its estimates of results before its stock market crash. The supermarket chain DIA has lowered its results estimates for the 2018 financial year on Monday to the fall in sales and the impact of the Argentine crisis, and suspends the distribution of dividends for 2019, as announced in a statement sent to the CNMV. In parallel, on the stock exchange, the firm's shares plummeted more than 33% around 15 hours.

5. The new war for cheap mortgages lowers spreads even further. The war for cheap mortgages has reactivated this October with the announcements of three entities. Thanks to the battle of the banks to join customers to their ranks, we can already find several loans in the market with differentials below 0.90% on variable rate Euribor.

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