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The Spanish Government concludes that there will be no money from the Competitiveness Fund in 2011

April 28, 2011 07:06 PM | CNA / Gaspar Pericay Coll

Elena Salgado, the Spanish Vice President for Finance, wanted to end the debate and discarded transferring the 1.45 billion euros from the fund in 2011. This is the amount asked for by the Catalan Government. The Catalan Minister for Finance has been asking for “co-responsibility”. The same day, the Spanish Senate approved a motion asking the Spanish Government to pay this fund this year as it is its legal obligation. The Catalan Government prefers political dialogue than taking the issue to the courts, as suggested by the Catalan Socialist Party.

The Catalan and Spanish Governments disagree again over the 1.45 billion euros in the Competitiveness Fund

April 27, 2011 12:43 AM | CNA / Gaspar Pericay Coll

The Catalan Government received 3.2 billion euros last week from retail bonds, 0.5 billion euros more than the initial quantity released on the market. In addition, it will have to issue more debt and it needs the agreed money transfers from the Spanish Government. However, the Spanish Deputy Minister for Finance has rejected the request from the Catalan Government of 1.45 billion euros from the Competitiveness Fund and has warned Catalonia not to include that amount in this year’s budget. The Spokesperson for the Catalan Government accuses the Spanish Government of “acting as a defaulter”.

Large business managers ask the Catalan President for further simplification of administrative procedures

April 16, 2011 06:42 PM | CNA / Patricia Mateos

They also asked for an improvement in vocational training and development of the Catalan economy’s internationalisation. The President of the Catalan Government, Artur Mas, met today at the ESADE Business School with 200 of the most important business people in Catalonia. Among others, the presidents and main directors of Abertis, La Caixa, Banc Sabadell, Seat or even FC Barcelona were present and Mas asked them to take the lead in the economic recovery.

Catalonia’s independence: the Catalan Parliament says “no” and the popular consultation process says “yes”

April 15, 2011 02:12 PM | CNA / Gaspar Pericay Coll

The Catalan Parliament rejected a law proposal on Catalonia’s independence three days after the popular consultation process on the issue ended with a clear “yes”. This civil society voting was not an official referendum and it was not organised by public powers. It took place over the course of 18 months, and Barcelona closed the process on Sunday. 21% of the electoral census turned out (885.000 citizens) and 90% of the voters backed Catalonia’s independence from Spain. Members of the Catalan Government cast their vote, including the President.

The Catalan Government issues 2,700 million euros in retail bonds to generate cash

April 12, 2011 01:58 AM | CNA / Gaspar Pericay Coll

In order to attain liquidity and taking into account the difficulties getting money from the international markets, the Catalan Government is selling 2.7 billion euros worth of treasury bonds. These will be bought by citizens at bank branches. One-year bonds have a 4.25% interest rate while for two-year bonds it is 4.75%. At the end of the first day of sales, 29% of the bonds were sold. The measure was already taken last October by the previous Government and the totality of the bonds were sold quickly.

The Catalan Government practically eliminates the Inheritance Tax for close relatives, which means 102 million euros less in 2012

April 6, 2011 02:31 AM | CNA / Gaspar Pericay Coll

In the last elections, the elimination of the tax was one of the main promises of the Centre-Right Catalan Nationalist Coalition, Convergència i Unió (CiU), which controls the Catalan Government. From January 1st 2011, first and second degree relatives will have a 99% bonus on this tax. The decision has been taken in the middle of the debate about public expenditure cuts.

The Catalan Government says “enough is enough” to further public expenditure cuts, but Madrid keeps putting on the pressure

April 1, 2011 01:45 AM | CNA / Gaspar Pericay Coll

On the same day that Catalan hospitals presented their plans to reduce their budget by 10% and cut several services, the Catalan Government’s Spokesperson sent a strong message to Madrid saying that "enough was enough." The Spanish Government answered the calls by the Catalan Executive by saying that if it does not meet the 1.3% deficit objective for 2011, it will run out of cash. Madrid is asking for greater budget cuts. Almost all Catalan political parties, including the People’s Party, back up the Catalan Government, the main exception being the Socialist Party, which supports Prime Minister Jose Luis Rodriguez Zapatero.

Who pays for the public deficit? Autonomous Communities vs. the Spanish Government

March 31, 2011 01:35 AM | CNA / Gaspar Pericay Coll

The Spanish Government demands an additional budget reduction of 3.2 billion euros to Catalonia, while the Catalan Government claims 3.3 billion owed by the Spanish State. Catalan parties have accused Prime Minister Zapatero of reducing his government’s deficit by increasing that of the autonomous communities. The Spanish Government wants to force Autonomous Communities to pay for the deficit by limiting it through specific laws.

The PP or the PSOE will only have CiU’s support if a new regional fiscal redistribution model is agreed, affirms Mas

March 29, 2011 12:09 AM | CNA / Gaspar Pericay Coll

The President of the Catalan Government Artur Mas announced in Madrid that in 2012, if the People’s Party (PP) or the Socialist Party (PSOE) want CiU’s support to form a new Spanish Government, Catalonia needs more money and greater control over its own finances. Mas made these comments the same day his Government agreed a 400 million euros loan.