Spain Has No Government But it Still Wants Brexit Refugees
- Version of Beckham tax law is still a lure for high-paid staff
- New steps to lure bankers would have to await next government
Holidaymakers sit beneath parasols and play in the surf on the beachfront in Benidorm, Spain, on Tuesday, July 12, 2016. Spain registered record tourism year in 2015 with 68 million visitors.
Photographer: Matthew Lloyd/BloombergSpain’s pitch for the potential spoils of post-Brexit London has a gaping hole: It has no government.
While the country’s sunny skies, pristine infrastructure, skilled people and a tax break dubbed the ‘‘Beckham Law” may be a lure for international banks and law firms to consider moving there, Spain is handicapped by the fact that after two elections in the past seven months, it is no closer to forming a new government. Spain’s caretaker government can’t present more specific steps to draw such firms, says the Economy Ministry, whose current pitch also comprises “quality of life.”