News
Wine thieves
Windfall taxes on banks and utilities
New temporary taxes on Spain ’ s banks and energy firms are expected to generate around € 7 billion for the government . News of the measures came from prime minister Pedro Sánchez on July 12 as the country ’ s inflation rate hit 10.2 per cent , the highest for 37 years .
Two people have been arrested by police investigating the theft of wine worth over € 1.6 million from a restaurant in Cáceres in October last year . Investigators said the couple , a former Mexican beauty queen and an accomplice , had planned their visit to the Michelin-starred El Atrio restaurant meticulously and stole a master key to get into the wine cellar . One of the 45 bottles which they took was valued at € 310,000 and efforts to recover the haul continue .
Drugs drones
Three drones , designed to smuggle drugs for 15 kilometres under the Strait of Gibraltar from Morocco to Spain , have been seized by police . The 14-month operation concluded last month with the arrests of 14 people in three Spanish cities , including Málaga . Investigators said each submersible would be capable of carrying 200 kilos of cargo .
Safe gas
Ecological Transition Minister Teresa Ribera has promised that Spanish homes will not suffer cuts to gas or electricity supplies this winter . Spain has opposed the EU ’ s plan to reduce gas consumption by 15 % between now and April . Along with Portugal , Madrid is arguing a mandatory restriction is unfair as both countries use far less Russian gas than other EU states .
Picasso smuggler
What is believed to be an original sketch by Picasso was confiscated from a passenger who landed on Ibiza from Switzerland on July 5 . The suspect claimed to have bought the item from a gallery in Zurich but may face charges including avoidance of duties and VAT , amongst other offences . The 1966 sketch is now being examined by experts in an effort to provide a definite accreditation .
In a state of the nation address to parliament , Sr Sánchez said that a tax on extraordinary profits made by power utilities this year and next would total about € 2 billion , while the tax on financial institutions would produce further € 1.5 billion .
He said that the country ’ s big banks were being penalised because they were benefitting from unexpected interest rates , and that the new measures would “ protect workers and the most vulnerable .”
Further details were not released by the prime minister , although he said the new rates would be applied to any
Inflation in Spain rose to 10.2 per cent in June , according to government data published last month . Compared with the 8.7 recorded in May , the figures show the biggest increase in prices during any month of June since 1977 .
Both power and fuel were more than 40 per cent more expensive than 12 months earlier , while heating rose by 37 per cent . Oil for cooking rose by 37 per cent , milk was up a fifth and bread was almost 14 per cent dearer .
The data from the National Statistics Institute suggest the average household in Spain will spend € 3,550 more per year . Underlying inflation , which excludes fresh food and energy , rose to 5.5 per cent , which was the highest since 1993 .
Government ministers were said to be disappointed with June ’ s figures , but continue to maintain that inflation will fall back to 9 per cent by the end of the
Pedro Sanchez
business with a turnover of at least € 1 billion . Shares in Spain ’ s banking sector – which had not been advised in advance – immediately fell , with Sabadell down 13 per cent , although recovering to 7.4 per cent at the close of business .
Utilities firms Iberdrola and Naturgy saw shares fall less than one per cent . The government had previously indicated it intended to levy charges on energy companies .
Inflation in double digits
year , and reducing further in 2023 . Spain ’ s current inflation forecast for the whole of 2022 stands at 6.1 per cent .
Butane frozen
The maximum price of a bottle of butane remained € 19.55 after the bimonthly review on July 19 . However , the price is presently frozen until December by law in response to economic pressures and the consequences of the war in Ukraine . Without the freeze , the price would have risen by 5 % to € 20.52 per 12.5 kilo bottle .
Worst motorways
A new survey of road users has rated the A-7 in Málaga as one of the worst in Spain . The Organisation of Consumers and Users said their 1,200 respondents placed it third from last , citing road works , traffic density and the absence of rest areas as problems . The A-7 runs along the coast of the Costa del Sol across the province of Málaga .
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