US EditionSpain sets out $5.8 billion support package to counter Iran war's impact
The €5 billion package includes 80 measures such as tax cuts and fuel subsidies to protect 20 million households and 3 million companies from energy price surges.
- On Friday, Prime Minister Pedro Sánchez announced a €5bn package with large reductions in energy-related taxes to cushion the Middle East war's economic impact.
- Rising oil and gas prices have pushed European governments to consider emergency measures, but Spain's renewable energy generation, around 55%, reduces its exposure to oil-price shocks.
- Among the main measures were reducing VAT on fuel from 21% to 10%, suspending hydrocarbons excise duty, and providing a €0.20 per litre subsidy for transport operators, farmers, ranchers, and fishermen.
- The extraordinary cabinet approved 80 measures taking effect Saturday, designed to support 20 million households and 3 million companies, saving €200 million for energy-intensive industries.
- Sánchez framed the package with criticism, saying, 'These are 5 billion euros that we could be allocating to scholarships, healthcare, and long-term care.
59 Articles
59 Articles
The response of Spain to the energy crisis is a much wider and structured package compared to the Italian intervention on excise duties and discounts to road haulage. The government led by Pedro Sánchez has approved Friday a plan from 5 billion euros, articulated in 80 measures, with the objective to contain the impact of the surge of the prices of energy linked to the war in the Middle East. According to the socialist premier, it is the major s…
The government approves energy reductions and war aid in the Middle East, and does so with a package of measures of €5 billion that comes into effect immediately after its publication in the BOE. The aim is to contain the impact of the energy crisis caused by the geopolitical conflict and to cushion the blow on homes, businesses and strategic sectors such as transport, agriculture or industry. The plan combines tax reductions, direct aid and str…
Mobilizes 5,000M in tax rebates, 'returning' drivers for up to 100 days what they have overpaid for gasoline in three weeks of war. More information: Anti-crisis measures will reduce the electricity bill by 13% and gasoline and diesel will lower the price of liter 30 cents
The package of measures devised by the Government to respond to the economic effects of the war in the Middle East has an expiry date, on 30 June. Government sources confirm that until then the tax rebates provided for in the royal decree law presented this Friday by the President of the Government, Pedro Sánchez, following an extraordinary meeting of the Council of Ministers that has given the green light to a package valued at 5 billion euros.…
The Spanish Prime Minister Pedro Sánchez presented this Friday an economic recovery plan aimed at mitigating the first effects of the war in Iran. It includes 80 measures to reduce bills...
The spokesman for the Consell, Miguel Barrachina, warned this Friday that the decree of measures in the face of the crisis situation for the war in Iran announced by the executive of Pedro Sánchez this same Friday arrives "late" and "roto". Late, because, as explained, in the case of Portugal, the latter raised them only two days after the beginning of the events. In addition, the said decree arrives with the government "roto", in clear allusion…
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Bias Distribution
- 35% of the sources lean Left, 34% of the sources are Center
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