The new tax on banks will be detrimental to the economy and investment

The banking associations AEB and CECA are analyzing the technical details of the measure following the registration of the bill

This tax affects the ability of institutions to provide credit and could have consequences for financial stability

The associations AEB and CECA believe that the Government’s decision to present a new tax on banks today in the Congress of Deputies, through the parliamentary groups that support the executive, is a measure that will not achieve its goal of combating inflation and, in addition, will hinder economic recovery and job creation, in a context of rising prices and geopolitical tensions.

Furthermore, it is necessary to emphasize that the Spanish banking sector has been making a significant contribution to the economy and Spanish society, as well as to the sustainability of public spending through specific taxes. A measure of this kind affects the credit and risk decisions of the institutions, as well as their competitive capacity in the European single market.

Following the registration of the bill regarding the tax, the banking associations are analyzing the technical details and remain willing to engage in dialogue with the Government and parliamentary groups during its processing, based on an appropriate alignment with the basic principles of our tax system, such as equality, non-discrimination, and economic capacity.