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Lagarde criticizes the reduction of VAT on food for its effect on inflation

Date: April 1, 2023 Time: 22:26:37

The President of the ECB, Christine Lagarde, has taken advantage of her visit to Spain to charge against some of the Government’s measures to deal with the rise in the CPI, including the reduction in VAT on basic foods, in force since last 1 January, due to its inflationary effects. Specifically, the organization’s leader has asserted that it is not an “ideal tool”, even if it is the “easiest” to lower prices.

The first reason he has put forward is that it benefits the entire population. The second is because once the previously applied tax rates are restored they will cause a new rise in prices. Faced with this situation, Lagarde is committed to direct transfers, such as the 200-euro check, help that in Spain can be requested by those with an income of less than 27,000 euros per year and assets that do not exceed 75,000 euros.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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