Spanish political parties propose varying fiscal policies for elections

Major Spanish political parties, including the PP, PSOE, and Vox, have outlined differing tax proposals ahead of the upcoming elections. A central point of debate is the Personal Income Tax (IRPF) and how to ensure that the minimum wage (SMI) is not subject to taxation.

Vox proposes raising the exempt minimum to 22,000 euros annually and implementing a single tax rate of 15% up to 70,000 euros. The PP has proposed adjusting the IRPF exempt limit to align with the SMI to prevent payroll withholdings, alongside increasing personal and descendant minimums. The PSOE also shares the goal of exempting the SMI from tax but differs on the specific implementation methods.

Additionally, Alberto Núñez Feijóo, leader of the PP, has announced a fiscal package aimed at the rural sector. This includes a 0% VAT on basic foods such as meat and fish, reducing electricity VAT to 10%, and pushing for an Agrarian Taxation Law to adapt fiscality to agricultural production cycles. The PP also suggests zero taxes for young people purchasing primary residences in areas affected by depopulation.