The AIReF unveils another 'saber' from the Government: it will rise a 10% quotes to enter 1,000 million

Citizens accusing the Government of Sánchez de inflate Budgets: "they Have a hole 10,600 million" Plan B Government: to raise the price higher a 20% to ra

The AIReF unveils another 'saber' from the Government: it will rise a 10% quotes to enter 1,000 million

Citizens accusing the Government of Sánchez de inflate Budgets: "they Have a hole 10,600 million"

Plan B Government: to raise the price higher a 20% to raise 2,000 million

The Government will raise the foundation's maximum contribution to raise between 1,000 and 1,100 million euros. So what has advance, surprisingly, the president of the Independent Authority for Fiscal Responsibility (AIReF), José Luis Escrivá, who during his appearance in Congress has referred to this measure.

In its analysis of the Budget Plan, the AIReF demanded more data to the Government, which had not mentioned this performance but has been obliged to inform the Tax Authority. And Escrivá, in turn, have exposed it to the Budget committee of the Congress of Deputies.

In particular, the Government is preparing an increase of at least 10% to the foundation's maximum contribution, so that will affect the income of more than 45,000 euros. The measure will contribute the indicated 1,000 or 1,100 million and is part of the plan B that Pedro Sanchez and his economic team managed to square their number, as the advanced THE WORLD.

Also, Escrivá has shown the important questions that raises the revenues projected in the budget plan of the socialist Government. The treasury department estimates that the set of tax measures included in the Budget Plan will allow to enter 7.178 million euros. However, the AIReF has estimated that, in the best of scenarios, the maximum figure would be 6.598 million, and that in the worst context possible the data just would exceed 5,000 million euros. That is, that Government estimates are inflated in up to 2,000 million euros.

in Addition, the Tax Authority is also warning that the costs will be higher than planned: the Government considers that the measures of expenditure will result in a disbursement of 2.525 million, while Escrivá has pointed out that the figure will be of 2.886 million. The difference, therefore, amounted to 361 million.

Some of the biggest mismatches occur in the new taxes that the Government wants to create. An example very clear is the tax on certain digital services, a figure with which the Executive is expected to enter 1,200 million; the AIReF, on the contrary, considers that the rate Google will bring between 968 and 546 million. Something similar happens with the tax on financial transactions, whose contribution could be in the middle of what is prescribed by the Executive. Therefore, one of the recommendations of the AIReF is that you pay special attention to the behavior of the new figures.

Impact of the SMI

Another of the warnings of the agency to monitor closely the impact of the increase of the minimum interprofessional wage (SMI) up to 900 euros. "There is a large uncertainty in the response of employment to the rise in the minimum wage", has exposed Escrivá, who has also pointed out that it will have a negative impact of 40,000 jobs in the creation of employment. In other words: it will create 40,000 jobs less as a result of this measure.

And in the evolution of the budget terms, that is, to the path of deficit, the AIReF points out that the deviation of this year will be 2.8%, above the 2.7% anticipated for the next fiscal year. For 2019, the Tax Authority considers it "feasible" that the Executive complies with the target of 1.8%, but "without many margins in the process of implementation of the budget".

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Updated Date: 26 October 2018, 07:00

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