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Rubalcaba Demands Immediate Reintroduction of Wealth Tax

Mon 12th Sep 2011

The ruling PSOE Party's Spain's candidate for November elections, Alfredo Perez Rubalcaba, yesterday called upon the government to reinstate wealth tax with immediate effect.

The Statesman confirmed that he had asked the PM, who will not be standing for re-election, to reactivate the tax which was abolished in 2008 in a bid to stimulate the economy as he expects that the measure could result in an additional 2 Billion Euros in revenue, available for the new administration in 2012.

El Mundo, and other Spanish Newspapers have speculated that the government will accept Rubalcaba's demand, and the re-introduction could be approved by the cabinet as early as Friday of this week.

On Friday of last week Spain's Minister for the Economy, Elena Salgado, confirmed that if such a measure was approved, a decree could be drafted in a 'matter of hours'.

A Poll of public opinion published by El Mundo over the weekend, puts the PP as favourites to govern with 47.1% of the vote, compared to the PSOE with to 32.3%.

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