Spain’s lower house of parliament has approved a package of 80 measures worth 5.8 billion dollars to mitigate the economic impact of the war in the Middle East. The document, drafted as a royal decree-law, envisions, among other things, tax cuts on fuel, gas, and electricity. VAT on energy resources will be reduced from 21 percent to 10 percent. Additional tax breaks will also be introduced in the energy production and distribution sector in Spain. Economy Minister Carlos Cuerpo said that about 20 million households will be able to reduce their electricity bills.
News On AIR | March 27, 2026 11:30 AM
Spain Passes Economic Relief Plan to Cut Energy Costs