Business News & Financial News

Spanish economy 28th September 2022

The Valencian President Of The PSOE Disregards Sánchez; Also Cuts Income Tax, Like The PP

The president of the Generalitat Valenciana, Ximo Puig, plans to save 150 million euros (3.6% of tax revenue) for 1.34 million Valencian taxpayers (97.4% of the total) with a retroactive reduction in personal income tax, an increase in the minimum exemptions and a 10% rise in all regional tax deductions. The reduction is more ambitious than the PP’s deflations, very focused on reducing wealth, and contrasts with the Treasury’s refusal,…

European politics, Relevant News Item 26th September 2022

The Right Wing Takes Over The Government In Italy

The coalition of conservatives, post-fascists and populists, led by Giorgia Meloni, won 44% of the votes in both Congress and the Senate, with 96% of the votes counted. “It is the time of responsibility, we will govern for all Italians”, said the very possible future prime minister after an election with a historic abstention rate. With a turnout of 63.9%, Giorgia Meloni’s Fratelli d’Italia had 26.2% of the vote, Enrico…

World economy 27th September 2022

OECD Cuts World Growth To 2.2% In 2023 (1.5% For Spain)

The Organisation for Economic Co-operation and Development (OECD)’s analysts, in their new economic growth projections for 2022 and 2023, have revised Spain’s gross domestic product (GDP) growth for 2022 upwards by three tenths of a percentage point to 4.4% compared with their June estimate. Meanwhile, they have lowered their projection for Spanish GDP growth in 2023 by seven tenths of a percentage point to 1.5%. With regard to inflation, the…

“It Cannot Be That The Number Of Public Employees Rises And At The Same Time The Number Of Hours Worked Falls”

Almudena Díez | Ismael Clemente, CEO of Merlin Properties, explains that “What we are seeing today is that the adoption rate of teleworking in Spain is very low. In fact, it is one of the lowest, not only in Europe, but in the world. With the exception of the public administration, which has adopted it massively, with the risk of generating inefficiency” Q: A Bankinter director told us that the…

“In The Last Ten Years, While Consumption Has Risen By 1.3%, 24 Refineries Have Been Closed In The EU.”

“The Rise In Inflation Is Largely Due To Speculation. The ECB Will Not Be Able To Stop It By Raising Rates”

Lidia Conde (Francfort) | explains Marcel Fratzscher, president of the DIW (Berlin Institute for Economic Research) who headed the ECB’s International Economic Policy Analysis Department in 2008-2013. In an interview to be published in this month’s issue of Consejeros magazine, Fratzscher explains that “The ECB is habdicapped because it cannot tacle the problem by raising rates, neither this year nor the next”, which is why “I am not in favour…

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