Entrecanales warns that the Government's fiscal policy affects competitiveness

The executive president of the construction and energy group Acciona, José Manuel Entrecanales, has censured this midday the fiscal policy of the central government, considering that it harms the country's competitiveness.

Thomas Osborne
Thomas Osborne
14 February 2023 Tuesday 09:34
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Entrecanales warns that the Government's fiscal policy affects competitiveness

The executive president of the construction and energy group Acciona, José Manuel Entrecanales, has censured this midday the fiscal policy of the central government, considering that it harms the country's competitiveness. He said it during a discussion at the Círculo Ecuestre, whose vice president is Enrique Lacalle. "There are certain tax policies that are not conducive to Spain's attractiveness as an investment destination," Entrecanales explained during the meeting.

The businessman added that Spanish regulations do not help the development of new businesses either. He has given as an example that from the European funds Next Generation the subsidiary of the Silence group have only received 12 million euros in aid for an investment project in electric motorcycles to which they have allocated 200 million. In his opinion, public aid equivalent to 6% of the investment is not going to change the decision of a businessman to bet on carrying out a project or not.

Asked about the temporary tax on energy companies, the president of Acciona assured that it seems "above all unfair." He has recalled that his company already pays 1,300 million in taxes and withholdings. "A lot of taxes are paid", he has warned when remembering that the taxes paid represent 5 or 6 times what the company pays in dividends. "You contribute fairly," he stressed.

During the debate, he also assured that in relation to the awarding of the Camp Nou remodeling works to the Turkish company Limak, that it has won the contract because it has accepted conditions and a price that the rest did not agree with. And he has assured that he did not know that company.