Spain to Raise Taxes on Companies and the Rich in Draft Budget

The Spanish government is aiming to rebuild its pandemic-ravaged economy by raising taxes for companies and the wealthy, according to a draft budget set to be approved by the cabinet on Tuesday.

The government’s financial plan for 2020 will include increases in corporate and wealth taxes, as well as higher income taxes for the richest Spaniards, Prime Minister Pedro Sanchez and his deputy, Pablo Iglesias, said at a press conference before the cabinet meeting in Madrid.

The increased revenue will help fund higher salaries for public workers and for public pensions, and more spending on health care, education and ...