Spain’s new Prime Minister, Pedro Sánchez, formally unveiled his plan to make the country more “inclusive” in a speech to the Spanish Congress on Tuesday.
Sánchez’s plan is to increase spending and finance it by raising taxes on businesses and high-income individuals. The Spanish Congress should block the prime minister’s proposals if it wants to avoid an exodus of capital, as well as higher unemployment and prolonged stagnation.
Read the full op-ed in Economics 21 here.