29 September: Spain sets fresh inflation aid package

Spain is set to approve a fresh inflation aid package on Tuesday, 29 September, before existing support for productive sectors begins to fall away in October. Economy Minister Carlos Cuerpo confirmed the date in Congress in Madrid on Wednesday. The new government decree addresses inflation linked to the conflict in the Middle East.

The government has told the food industry it intends to continue support beyond 30 September, when measures from its Middle East crisis plan expire. That plan began in March and has been extended by decree.

Cuerpo has also met representatives of industry, the energy sector and social partners to discuss the anti-crisis measures. Once ministers approve the decree, Congress will have up to 30 days to ratify it.

Energy costs and food prices

Cuerpo gave few details of what the new package will contain. He said Spain must keep cutting its dependence on energy, while pushing electrification and decarbonisation.

The government will also watch the knock-on effect on food-basket prices. Cuerpo said they were “practically flat”.

He said lower network charges for electricity-intensive industry had saved an average factory up to €200 or €240 million.

Topics: Agriculture · Social affairs · Politics · Economy

Source: Europa Press / Mallorca.com