2023-11-02 09:03:27
While in the “political thing” steps are being taken towards the next investiture of Pedro Sánchez, in the economic and business world the panorama is rather mixed. The reasons are several. One, last week’s agreement between the PSOE and Sumar, which is still in progress. Not only because of the reduction in working hours, but also because of the lack of guarantees to invest or the increase in taxes and fiscal pressure. Regarding the latter, Mrs. Botín, head of Banco Santander, made it very clear: if in the end the treasury confiscates up to 50 percent of the income of an individual or a company, it is discouraging the activity. From Repsol, its leaders have expressed their concern about the regulatory chaos, among other reasons, and have warned that they are freezing investments worth a few billion euros. Important investment funds have spoken in the same line as the oil company and, day in and day out, criticism and attacks on businessmen from the government environment multiply. So I could continue with the list of those who have expressed their complaints about the absence of what we could call a “friendly environment” for business investment and business.
What there is, and in what way, is a clear desire for tax collection and an increase in the general tax pressure, as well as little security for investments. In this context, it is worth asking ourselves again and again who is the daring person, whether a natural or legal person, willing to invest their savings and money in Spain. The less investment, the less economic activity and the fall in employment. This will translate into lower tax collection, unless the latter continue to rise. But, of course, everything has a limit.
For now, businessmen have expressed their opinions and some have already frozen investments. But it does not seem that we are facing a true business rebellion, with all the legal provisions. However, it may end up arriving and that despite the fact that the world of money is inherently fearful and has to be, very fed up, to declare war on the Government of the day. But, the way events are going, I wouldn’t rule out that rebellion coming.
#Business #rebellion #sight #Sánchez