Sanchez and Ibex avoid talking about taxes in Davos but address the risks of debt

without tension. This was the guiding principle and preparation for everyone. From the head of government and from the great Spanish company. Speak calmly and without getting into controversy if possible, but discuss how the uncertainty about the economic future of the world is perceived in Spain’s business world. And if thorny issues such as taxes on wealth and corporations and debates over anti-inflationary measures can be avoided, all the better. In a closed meeting, almost between “friends”, Sanchez and the principal presidents and chief executives of the 35 Ibex who migrated to the World Economic Forum held in the Swiss city of Davos agreed on the good feelings about the Spanish economy: there will be growth, at least this year, when the recession will happen in some parts of the world. The common belief was that hyperinflation might have already reached its ceiling. Avoiding, of course, tackling thorny issues such as taxation to abandon “standing by” what has in the past been indexed to businessmen themselves by “dark economic forces”. Pedro Sánchez, who had neither time nor place to call upon the principal leaders of the great company in Spain, summoned a morning meeting at Davos before his solemn speech in the afternoon. According to sources consulted among those present, Santander’s president, Ana Botín—who arrived late, but had time to sit to Sánchez’s left and take the lead in the conversation—; BBVA President, Carlos Torres; Head of Naturgy, Franciso Rennes; Telefónica’s president, José María Álvarez Pallet; Repsol CEO Josu Jon Imaz; Siemens Gamesa CEO Jochen Eckholt; Cepsa CEO Martin Wetselaar; HP’s CEO, Enrique Lloris … gathered around the Prime Minister, who arrived accompanied by his Secretary General for Economic Affairs and the G20, Manuel de la Rocha, and Foreign Minister Jose Manuel Albares. The absence of Sánchez Galán The surprise came when the doors were closed and the absence of two ibex giants was confirmed, precisely the one that the government has referred to in recent months as the most critical of its fiscal policy: Ana Putin, who finally made it to the meeting despite the fact that his schedule in Davos is usually very narrow and varied; And the president of Iberdrola, Ignacio Sánchez Galán, who excused himself from attending. He had a more favorable date for his company: to sign with the CEO of Norway’s largest sovereign fund, Norges Bank, a joint investment to develop 1,265 megawatts of new renewable energy in Spain. However, Iberdrola was represented at the conclave by Agustín Delgado, the company’s Director of Innovation and Sustainability. The Ibex greats readily agreed to take the question of taxation off the meeting’s agenda, so as not to fall into tensions in a “don’t touch” place. According to the sources consulted, they shared with the president their confidence that Spain will end up avoiding a recession, despite the uncertainty in some numbers, compared to other neighboring countries that will not be able to avoid it, and they also warned that despite 2023 and 2023. it will be 2024 Years “difficult” to understand, as they are presented better than expected, despite their exhortations not to be complacent. The end of 2022 saw a decline in energy prices – electricity and gas – but it may be temporary due to higher temperatures and lower gas consumption in Europe. Energy indicators indicate that during the second half of this year, prices may rise similar to those that occurred in the past year. You have to be alert and not be complacent, ”explains one of the sources present at the meeting. Two parts The meeting was divided into two parts. The first, the most massive, with Sanchez with about forty businessmen and investors from different countries, lasted from 9:30 am until 10 :30 a.m. in a space called “Davos Diálogos Estratégicos”, and dealt with international issues. The second, which lasted half an hour, was in a “small panel”, with the main businessmen of Ibex, to talk about the situation in Spain. In this, the managers focused their concern Regarding the development of public debt, which, as it was learned yesterday, returned to a new all-time high in November with 1.506 trillion euros “In the medium term, government debt is worrying, both in Europe and the United States,” adds another source present at the meeting, who He also explained that during the conversation it was revealed how aid to households would boost consumption (and GDP) more than expected, in a still uncertain environment Opinion Related news If Sanchez meets the “dark forces” of Spain in Davos Maria Jesus Perez Putin, Torres, Renes, Alvari g-pallett, emas, eichholt, wetzelaar … an appointment with the prime minister without touching on thorny issues such as the tax on large wealth. Another topic of discussion was the financial failure of one of the shortest governments in modern history: that of the former prime minister of the united kingdom, liz truss , who had to resign last October after 44 days in the position following her firing. Thatcherite fiscal measures – they proposed a tax cut of £60,000 million – caused a devastating reaction from the markets and a strong devaluation of the pound. Modernizing Spain Pedro Sanchez may have noticed the warnings of the country’s main businessmen, but in his subsequent speech to the World Economic Forum, he defended the assistance measures for businesses and households adopted to mitigate the impact of inflation and explicitly formulated his intention to “maintain and extend them” as long as inflation does not guarantee citizens The ability to maintain a decent and affordable standard of living. In his fifth speech to the world’s economic and business elite, Sanchez cited the growth of billionaires and large “zero tax-paying” multinational corporations as the main global problem and polished his legacy as head of the Spanish government, which he attributed to having “modernized the Spanish economy in a way that did not happen in the 20th or 30th.” last year.”

See also  The Treasury will return 1,326 million euros to Telefónica for improperly paid taxes

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button