Spain’s Sanchez Tells Brussels He’ll Raise Billions in Taxes
- Socialist leader lays out four-year economic plan for the EU
- Sanchez likely to serve second term as premier following vote
Spain’s government intends to increase taxes by more than 20 billion euros ($22.5 billion) during the next several years if Socialist Pedro Sanchez secures the support he needs in Parliament to serve a second term as prime minister.
Sanchez sent his four-year economic plan to European Union officials late Tuesday night, forecasting a 2.2 percent increase in GDP this year and 1.9 percent next year. He also pledges to increase taxes by 5.7 billion euros in 2020, as he had previously laid out his 2019 budget. That proposal was rejected by Parliament earlier this year, triggering a snap election. Sanchez’s Socialists won the greatest number of parliamentary seats in Spain’s national ballot on Sunday and he looks set to cobble together enough support to govern again.