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Spain Takes Aim at Millionaires to Help Pay for Inflation Relief

Sept. 22, 2022, 5:27 PM

Spain is considering additional taxes on the wealthiest 1% to help pay for measures that would ease the burden of soaring inflation on the rest of the population.

Budget Minister Maria Jesus Montero said the government, which is already pushing higher taxes for banks and energy firms, decided to explore a temporary increase in levies for the rich after a region controlled by the opposition announced plans to effectively scrap a wealth tax.

“When we talk about the rich we are talking about millionaires,” Montero said in an interview with local broadcaster La Sexta. They should “make a temporary ...