Rajoy to partially compensate Catalonia for the tax on bank deposits
The Spanish Prime Minister, Mariano Rajoy, has confirmed that “in theory” the Spanish Government will implement a tax on bank deposits in 2014 – taxing the global amount of deposits and not individual ones. The revenue from this tax will be transferred to the Autonomous Communities. Furthermore, Rajoy stated that he “is studying” the question of compensating the Catalan Government financially for not having allowed them to implement such a tax in 2013. Catalonia approved a tax on bank deposits for 2013 in December 2012, aiming to collect €500 million per year. However the Spanish Executive approved its own tax a few days later, but at a 0% rate, de facto cancelling Catalonia’s. Despite the fact that Madrid has been compensating Andalusia, Extremadura and the Canaries for the same tax, it refused to compensate the Catalan Government.