The candidate of Frente Amplio for the 29N elections, Ada Colau, has defended a tax on the ultra-rich focused on assets starting from one million euros, with which she aims to collect more than 10,000 million, in a proposal with which she also seeks to strengthen wealth redistribution and facilitate access to housing.
Colau explained that this tax would have a rate of 2% on the total assets for people with more than one million euros, and that it would rise to 3% for those who accumulate more than 50 million euros.
An event in Madrid with the support of Nacho Álvarez
The proposal was presented during her speech this Thursday at an informative breakfast organized by Nueva Economía in Madrid, presented by the former leader of Podemos and former Secretary of State, Nacho Álvarez, who was the economic head of the purple party.
Álvarez explicitly supported the Frente Amplio candidate by stating that Colau and her political project are the right option if these elections are about "rebuilding social contracts that mend the fractures" currently present in the country.
More tax pressure for large companies and banks
In her speech, Ada Colau outlined several economic measures and also defended eliminating tax breaks for large companies and banks, with the aim of raising their effective tax rate on net profits.
As she explained, financial entities have accumulated profits of 26,000 million until September, while the effective rate for large companies and banks would be between 7% and 9%, compared to the 19% and 20% paid by SMEs, a difference she described as double what banks pay.
A tax on multi-property owners to mobilize housing
Colau also defended a tax on multi-property owners with more than four homes, a measure that, as she explained, would affect the richest 10% of the population and protect small owners.
The objective of this tax would be to mobilize some 500,000 homes that now have "abusive" prices towards affordable rent, encouraging a considerable reduction of 30% to exempt this tax. The candidate stressed that the objective is not recaudatory, but dissuasive.
