Ribera recognizes that the Government’s tax on banking and energy may “not meet the requirements to be permanent”


The Minister for the Ecological Transition avoids clarifying the Government’s plans for the tax until she has the report from the technicians

The third vice president, Teresa Ribera.
The third vice president, Teresa Ribera.AFP

The Government is waiting for the report from its technicians to resolve the legal tangle involved in the agreement between PSOE and Sumar to make the tax on banks and energy companies permanent. This has been indicated by the Minister for the Ecological Transition, Teresa Riberain an interview with Chain Being this Friday from Dubi, where COP28 is being held. The head of energy policy has admitted that, as the rate was designed in its day, “it is possible that does not meet the requirements to be permanent or so that it lasts over time”.

The energy minister has denied that the Executive has made the decision to “remove” the tax, after yesterday the president, Pedro Sanchez, would recognize that the Government is working on the “redesign” of the tax. “I have not heard anyone say that it is going to be suppressed,” Ribera insisted and then qualified: “If we are going to work on something that must take extraordinary benefits as a reference, We have to see how it is reformulated because it is no longer a specific solution“, but something that lasts longer over time and, in addition, has to be compatible with another need, that of quickly transforming massive investment in the next three, five or six years.”

And the National Energy Plan (Pniec) prepared by the portfolio headed by RIbera estimates the investment that will have to be mobilized to meet the 2030 objectives at 294,000 million euros, of which 85% will be contributed by the private sector. Precisely, it has been the threats of a slowdown in projects and the diversion of investments to countries like France or Portugal, led, recently, by Repsol and Endesa and, before them, by Iberdrola or Banco Santander, which has moved the Government to rethink the rate.

Ribera has listed key areas such as electrical networks, electrification, energy efficiency, or renewables; crucial to shield the country’s energy future. “What it is about is that things, technically, are well resolved and what happens with these extraordinary benefits, it is not about some earning a lot and others having to pay,” the vice president insisted.

“Our commitment is to be equitable, in that whoever has more can contribute more to the public coffers and, simultaneously, that a very good part of the private sector’s resources be dedicated to facilitating this transformation quickly,” he concluded. On that, he has insisted, the technicians are working. What does it mean that we have to do a rethink? “It is very important to do things well. Ensure our commitments and equity. It is not reasonable that there be extraordinary benefits, as it is not reasonable that there is no Corporation Tax that works well“, has settled the head of the Ecological Transition.

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