VAT cut on electricity

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PM Pedro Sánchez announced that his government will reduce IVA (VAT) charged on electricity bills from 10% to 5%.

The measure was due to be signed off at an emergency Cabinet meeting called for Saturday (June 25).

This is designed to help citizens with the general rise in prices. Spokesman for the ERC republican party, Gabriel Rufián slammed the government for introducing ‘patches’ when more lasting measures were needed. He noted that electricity company Iberdrola made €3.8 billion profit last year, while ‘people are frightened to turn on their air conditioning’.

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