2023-06-07 14:16:46
The calendar is so tight due to the calling of the general elections on July 23 that the Government that leaves that appointment will practically have its hands tied in the face of possible changes that it wants to include in the new request for European funds that Spain has just made to the European Commission. That future Executive will have practically a month and a half, if all the deadlines are met as quickly as possible, to undertake changes in the reforms and investments included in the addendum that the Ministry of Economy is going to send to Brussels.
The calendar defined by the European regulation indicates that once the Executive sends it to the European Commission, this body has two months to evaluate the addendum and, where appropriate, ratify it. We would be talking, at the earliest, of the end of August, taking into account that Spain’s intention is to send that document throughout this month of June. After those two months, it would go to the evaluation of the Council of the EU, which has another month before the plan is finally approved. In other words, the future government could try to modify the plan by mid-October at the latest.
Bearing in mind that the general elections are on July 23 and that the constitution of the Cortes would be on August 17, there would be no new government at least until early or mid-September. From there, any modification would have just over 30 days to renegotiate with Brussels. They may be technical changes and specific adjustments, but not major issues, point out various sources familiar with this type of negotiations. What has been agreed in months would be impossible to change in weeks, indicate these same sources.
In this context, the autonomous governments of the PP and the regional candidates of the party in the elections of May 28 have sent a letter to the vice president Nadia Calviño on Wednesday complaining about the approval of the addendum and warning that the electoral scenario is not the more propitious to assume the obligations that entail the receipt of more than 94,000 million euros of European funds.
In this scenario, the ‘barons’ of the PP warn that the changes in the regional governments and the general elections, “which may lead to a change of Government in Spain”, is not the context that, from their point of view, ” meets the minimum conditions to propose a draft schedule.”
plan details
Among other issues, Economy has included the reform of the sale price to small consumers (PVPC), that is, the regulated electricity tariff, and the modification of the Law on the Stock Market and Investment Services. The Government intends that the reforms included in the addendum reinforce the measures included in the plan and make it possible to ensure a model of sustained and sustainable growth, thanks to the mobilization of an additional 7,700 million euros in transfers and 84,000 million euros in loans, to which which will be joined by the almost 2,600 million euros of the new REpowerEU mechanism.
Thus, for example, the addendum contemplates the review of the regulatory framework of the financial system through the Securities Market and Investment Services Law. The objective is to promote the modernization and improvement of the securities markets in aspects such as crypto assets, the prudential requirements of investment service companies, access to fixed income markets or the elimination of barriers to access to infrastructure and protection of the investor.
In addition, with the addendum it is intended to deepen the improvement of the functioning of the labor market and human capital, with measures such as the provision of resources to the RED Mechanism, the development of a system of university micro-accreditations or the modification of the regulations that facilitate the labor inclusion of foreign workers and the retention and recruitment of talent.
In addition, the addendum introduces reforms in order to accelerate the ecological transition in relation to the production, supply and consumption of energy, with measures to promote renewable energy, sustainable mobility and energy efficiency.
To speed up the deployment of renewables, measures are planned to facilitate the administrative processing of electricity generation facilities, while reinforcing the processing of renewable projects and their evacuation infrastructure.
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