In its third large package this year, Spain has announced 10 billion euro ($10.65 billion) worth of measures to lessen the sting of inflation, increasing the total amount of help since early 2022 to 45 billion euro ($48 billion).
Spain, like other nations in Europe, has been struggling with a crisis brought on by rising costs of living as a result of the conflict in Ukraine.
According to Prime Minister Pedro Sanchez, the package revealed on Tuesday includes a one-time bonus of 200 euros ($213) for around 4.2 million households with annual incomes up to 27,000 euros ($28,800) and the prolongation of tax breaks for energy bills into the first half of 2019.
Prior to this, similar announcements that included direct assistance, tax breaks, soft loans, and rental regulations were made in March and June.
The newest proposals, dubbed a “anti-crisis” package to reduce price increases and foster growth in the coming year, extend for an additional six months tax breaks on gas and electricity enacted by the left-wing government.
4.2 million households will benefit from the one-time payment; previously, it was only available to families with a total revenue of less than €14,000.
With a reduction on season ticket prices prolonged through the first half of 2023, public transportation will also continue to be subsidised. However, a 20-cent per litre gasoline discount for consumers will only be available to a select group of work sectors.
In accordance with a €45 billion plan, France, like Spain, has promised a one-time payment to disadvantaged families getting energy vouchers.
Additionally, it compelled energy supplier Électricité de France (EDF) to set a one-year price increase ceiling of 4%.
The UK government imposed a cap on energy prices until April 2023, which will result in an average annual family expenditure for gas and electricity of £2,500.