Business daily – Spain cuts taxes, targets ‘excess profits’ to tackle soaring energy prices


Spain’s government is to cut taxes on electricity and claw back billions of euros in what the prime minister has described as “excess profits” to tackle soaring energy prices. The cost to Spanish consumers has risen by 35 percent in the past year, as wholesale price rises have been passed on to households. Also today, we look at the state of European economies ahead of the State of the European Union address by Commission President Ursula von der Leyen.

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