The AEB and CECA associations believe that the decision to create a new banking tax affects economic growth, and if approved under the announced terms, they do not rule out taking legal action, as some of the constitutional flaws of the current tax in force persist.<\/p>\n
The associations warn that it reduces credit to families and businesses, especially SMEs, which support the Spanish productive fabric and are the basis for job creation.<\/p>\n
The sector recalls that, in a context of global geopolitical tension and where Spain, like Europe, faces the need for multi-million dollar investments, bank financing is essential for these to be undertaken.<\/p>\n
It also expresses its strong rejection of a discriminatory tax that stigmatizes and harms the competitiveness of Spanish banks. It is contrary to the recommendations of international bodies such as the IMF and the ECB, with Spain being the only country that has created an additional tax of these characteristics on the banking margin. <\/p>\n
Spanish banking continues to work daily to fulfill its role in boosting the economy and credit flow, and to ensure the protection of its clients and shareholders.<\/p>\n