The banking associations AEB and CECA state its absolute rejection to the new banking tax for its economic impact and the legal uncertainty that generates
The banking associations AEB and CECA condemn the legal uncertainty and the serious economic effects of a tax that has been gestated in a chaotic process and little transparent one, to backs of the citizens and without dialogue with the sector nor assessment of the advisory bodies, that they should include in all legislative procedure and particularly in a so sensitive field as the taxation. All of this generates general uncertainty and in the financial markets in particular.
The associations reject frontalmente the decision of adding a new tax to the banking sector for its serious effects for the financing of families and companies, the investment and the economy as a whole, low a context of geopolitical risks and with strong financing needs in Spain and in Europe. Specifically, the new levy will take away 50,000 million new financing to families and companies.
This tax does not have parangón in the EU countries which is why harms the competitiveness of the Spanish credit institutions and of the economy as a whole, and lacks technical justification because the monetary policy has entered a new reduction cycle of the interest rates.
In addition, supposes the fragmentation of the domestic market for its different application between autonomous communities, and also the señalamiento of a sector whose objective is work by the economic growth and the social progress.
The banking associations reiterate its determination of undertaking legal actions.