‘Robin Hood’ government slammed by the banks

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Big banks and electricity giants are registering record profits – but are still up in arms over additional taxation imposed by the government to fund public aid measures.

Results presented for the period January to September saw Valencia’s CaixaBank collect €3.6 billion (up 48.2% on last year due to the hike in interest rates) and Sabadell secure €1 billion (up 44.9 %).

The pact signed by the Socialist party (PSOE) and Sumar last week would see the ‘emergency tax’ continued on the profits of banks and utility companies – brought in because of the enormous profits these firms were generating due to the effects of the war in Ukraine, and the need to fund policies to alleviate additional costs falling on households due to price hikes and high mortgage rates.

More in Friday’s Costa Blanca News

 

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