Díaz proposes raising the corporate tax ten points for the electric companies

The day after the electoral disaster of the left in Andalusia, the Second Vice President and Minister of Labor, Yolanda Díaz, launched her proposals to renew the shock plan against inflation, among which a 10-point increase in corporate tax stands out.

Thomas Osborne
Thomas Osborne
24 June 2022 Friday 15:27
6 Reads
Díaz proposes raising the corporate tax ten points for the electric companies

The day after the electoral disaster of the left in Andalusia, the Second Vice President and Minister of Labor, Yolanda Díaz, launched her proposals to renew the shock plan against inflation, among which a 10-point increase in corporate tax stands out. the big power companies.

It is a set of measures largely already announced by Díaz in recent days, but yesterday he specified more, and he did so curiously in a succession of tweets published at eight in the afternoon. It's not his usual style. The measures are aimed at the shock plan that expires on June 30 and that the Government has announced that it will renew, but it is in the how that the differences between the socialist part of the Government and that of Podemos arise.

“Inflation is hitting families. It is noticeable when making the purchase or when balancing the accounts at the end of the month. The Government acted quickly and decisively, but now it is not enough. We must strengthen protection against an international crisis”, wrote Yolanda Díaz, proposing an increase in corporate tax for electricity companies, a 50% discount on the transport subscription, a gasoline discount based on the consumer’s income level and a check of 300 euros for the most vulnerable.

With this concretion of the measures that he proposes, Díaz tries to advance the negotiations of the Government's shock plan, where the socialist sector has so far been reluctant to tax the electricity companies, and proposes to focus it on the next budgets and has not spoken on the discount of gasoline according to income.

"It is essential to strengthen the protection of citizens and advance measures that promote the energy transition," said the second vice president, stressing that this social and ecological investment cannot be paid by citizens at this difficult time. “The big energy companies must make an extra contribution. We propose to increase the type of companies by 10 points to raise between 1,500 and 2,000 million”, said Díaz. This would mean a surcharge of ten points on the corporation tax of these companies, a rate that is currently 25%, except for banking and oil companies, where it is 30%.

It is the concretion of the tax on electricity companies that he has claimed in recent days, disagreeing on how to implement it both with the Minister of Finance, María Jesús Montero, and with the Third Vice President and Minister of Ecological Transition, Teresa Ribera.

Díaz also proposes a check of 300 euros for those most affected by the crisis, in the style of the one that has been launched in France; halving the subscription for public transport and subsidizing the price of non-professional gasoline and diesel according to the income level of the beneficiaries. Currently, a general discount of 20 cents is applied.