Wednesday, May 29, 2024
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Spanish Prime Minister Pedro Sánchez has announced another €10bn (£8.8bn) in support to address rising prices following Russia’s invasion of Ukraine.

The government would “protect the middle class and workers amid the rise in the cost of living, energy and food”, he said.

The proposals include cuts to VAT and a €200 one-off payment for millions of households on less than €27,000 a year.

It’s Spain’s third set of aid measures and brings total support to €45bn.

Spain has succeeded in bringing down inflation in recent months to 6.8%, the lowest annual rate in the European Union and the lowest figure since the Russian invasion of Ukraine in February 2022. But food price inflation is far higher.

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