Spain’s left-leaning Government has made good on a promise to abolish the country’s longstanding wealth tax
In a speech given in December 2007, the Spanish Prime Minister Jose Luis Rodriguez Zapatero personally promised, if elected in March 2008, to abolish the country’s wealth tax in order to join the majority of European Union (EU) countries which have already gone ahead with its abolition. Impelled by this electoral promise, the new Spanish government, through its Council of Ministers, approved a package of 11 tax and economic measures which includes the abolition of the wealth tax on 18 April.
