The Treasury will “ban” electricity companies and banks from passing the new taxes on to citizens

Minister Montero assures that the rule will have this function “implicitly” and that the CNMC will be provided with the functions to “monitor and apply sanctions”

The energy companies and banking entities will not be able to pass on the new taxes announced by the president of the government in the final price of the services they offer to their customers. Finance Minister María Jesús Montero announced this Thursday that they will “ban” it in an “implicit” way in the rule being prepared by her cabinet.

“Companies will be prohibited from passing on this tax to the final price paid by citizens,” the minister said in an interview on Cadena Ser, adding that “the CNMC (National Commission for Markets and Competition) of the functions to monitor and apply sanctions in case of non-compliance.In this way, the standard being prepared will have this “implicit” ban, Montero assured.

In his opinion, since the start of the crisis, these companies have been given benefits “that are not justified” and that should have an impact on “greater well-being of citizens”, but they do the opposite. And he gave the example that while the European Central Bank (ECB) has not yet practically changed its monetary policy of raising interest rates, banking entities are already raising the price of some of their products to customers. “Those who earn the most should do more so that the vulnerable class does not suffer the consequences of a crisis they did not cause,” said the minister.

Source: La Verdad

Wayne

I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.