Spain’s Millionaire Levy Sets Stage for Tax Clash Ahead of Vote

Spanish Prime Minister Pedro Sanchez is raising the stakes over a levy on the rich aimed at easing the burden of soaring inflation, setting the stage for a tax clash with opposition politicians ahead of next year’s elections.

His administration said this week it’s considering skimming off more money from “millionaires” to provide funds to help people who are struggling to pay their electricity and grocery bills. This followed efforts by some regions to get around a national wealth tax.

“We are proposing a redistribution effort by those who have more so that we can finance the welfare state that ...