Spanish Parliament to be dissolved Monday

 

The final session of Spain's parliament ended earlier today, ahead of being dissolved on Monday to allow time for parties to prepare and canvass for votes for the coming general election on November 20th.

Today session saw a unanimous approval of the newly restored wealth tax that saw 176 votes in favour, 2 votes against, and 166 abstentions.

That tax is estimated to effect 160'000 Spanish residents who have assets of more than 700'000 Euros in value (excluding their homes) and will bring 2 Billion Euros per year to the Economy.

The tax will remain a temporary measure, and only be in place for 2011 and 2012.