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Special tax for banks and energy companies: These are Madrid’s plans

In the gas crisis, the profits of companies in the energy trade have risen sharply, and banks are profiting from the rise in interest rates, according to the Spanish government. Many governments in Europe are therefore discussing taxes on excess profits, including the German government. Madrid has now decided on this measure.
By
Isabel Cuesta Camacho
Image of Isabel Cuesta Camacho

For Chancellor Olaf Scholz (SPD), it is not an issue at the moment, but German Economic Affairs Minister Robert Habeck (Greens) would like it: a tax on exorbitant profits made by energy traders as a result of the Russian campaign against Ukraine and the turbulence on the energy markets. Just yesterday, a government spokesman ruled it out for the moment, referring to the coalition agreement. In Spain, by contrast, the left-wing governing alliance recently passed a very similar tax for energy suppliers and banks.

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