Pedro Sánchez and Pablo Iglesias presented earlier this Tuesday the master lines of the new General State Budgets that will be sent to Brussels and that will arrive in the Congress of Deputies in the next few days. The main agreements closed between the PSOE and United We Can include strong increases in most of the taxes.
Thus, as Pablo Iglesias has announced, the next PGE will include an increase in Corporation Tax, limiting exemptions for dividends to capital gains generated in subsidiaries; a point will be raised for assets of more than 10 million euros and the personal income tax for capital income will be raised three points for more than 200,000 euros.
The personal income tax for capital income of more than 200,000 euros and the personal income tax for work income of more than 300,000 euros will also be raised two points. Similarly, exemptions for Socimis will be limited to 15% and deductions for private pension plans will be reduced.
Both the first vice president and Pedro Sánchez justified these increases in their objective of generating a battery of proposals to improve tax justice and advance towards a profound reform of the tax system.
Both PSOE and Podemos believe that they are unavoidable and indispensable budgets for the modernization of the economy. They are progressive budgets and that our country needs, they have indicated.
The President of the Government, Pedro Sánchez, has highlighted that these are accounts that draw “a before and after of our economic model”, since it guides our economy towards the great transformations it needs: ecological transition, digitization, territorial cohesion and equality .
The goal, he said, is “to move forward and go out together without leaving anyone behind, reducing social differences, uniting society and with real gender equality.”
Sánchez explained that investment in the public education system will be 70% more, which will translate into the largest number of scholarships in history, with an increase of 514 million and with a plan to modernize Vocational Training in four 700 million years.
It also includes a commitment to R + D + i, which is “essential to make the leap that allows us to create quality employment”. From a public and private point of view, it will receive an extraordinary investment of 5,100 million euros. An increase of 80.1%.
In addition, Science and Innovation will have a budget of 60% more and that of the ecological transition and demographic challenge will have 11,535 million euros for green policies that allow meeting the decarbonization objectives.
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