Mind the gap

that the increases in 2022 and 2023 would produce a “notable reduction.”

It would take 40 years to close the gulf entirely, the union predicted.

The report pointed out that Spain’s minimum wage increases between 2019 and 2021 had “significantly” reduced the wage gap and foresaw

The salary differences were especially substantial in Madrid, Gestha said, where women earned €7,511 less each year, compared to €1,956 in the Canary Islands.

The survey also discovered that women actually earned between €226 and €153 more than men on lower­paid salaries of €20,055 and €33,425 a year but received €40,381 less once these rose be ­

Sparky idea

MARKS & SPENCER are testing a premium version of their Sparks loyalty card.

Perks that will come with the £120 (€136.3) fee include free and unlimited next ­ day deliveries, a monthly £10 (€11.6) voucher and a free coffee each month from any M&S cafe.

Sparks customers will also have a weekly chance of winning their shopping free every week across 1,487 stores and one free drink for every six that they buy in­store.

The retailer explained that the trial involved existing Sparks customers and it would await results before widening the service nationwide.

Experts said the move would also guarantee M&S upfront cash from regular shoppers.

ANA BOTIN, president of Santander Bank, received a 2022 bonus of 736,160 share options at €3.08 each, instead of their current €3.54 market price.

Payment in options is an alternative to a cash bonus, entitling Botin ­ whose bank made a net profit of €9.6 billion last year ­ to obtain the shares at a fixed price over a certain period.

Should the share price rise, Botin could then acquire them at the reduced rate before selling at a profit. But she could also run the risk of seeing the shares fall below €3.08 and reduce the value of her bonus.

Piece of cake

yond €133,700.

Age played an important part, the Gestha experts found, with a difference of between €682 and €1,339 for the under 25s which rose to €6,537 from the age of 56 onwards, reaching €10,763 for women who were 65 or over.

“This is a clear reflection on the amount of time that women devote to their families to the detriment of their professional development,” Gestha said.

What it costs

EACH year the Child Poverty Action Group (CPAG) produces a report on the cost of raising a child from birth to the age of 18.

In 2022 this amounted to approximately £150,000 (€170,335) for a couple and £200,000 (€227,2145) for single parents.

“Childcare has become an increasingly large component of this outlay for working parents who are not fortunate enough to have unpaid family care available,” the November 2022 report said. “Rising childcare costs now comprise 60 per cent of the lifetime cost of a child for a couple who work full time, compared to around 40 per cent in 2012.”

A study by Raisin Bank put the cost of caring for a child from birth to adulthood in Spain still higher, requiring €300,000 for healthcare, education, food and clothing.

FINSBURY FOOD GROUP, the speciality bakers behind Mary Berry’s cake range, have posted double­digit sales growth.

The company, which supplies supermarkets and makes cakes, bread, buns and snacks welcomed an ‘encouraging’ firsthalf performance.

Revenues had increased 15 per cent to £191 million (approximately €271 million), thanks to higher prices although the group warned of challenges, as profits were hampered by cost inflation.

Operating profit was flat at £6.5 million (€7.4 million) which the group, listed on the Alternative Investment Market (AIM), ascribed to higher input costs which ate into margins.

Windfall tax

SPAIN’S energy sector has now paid an upfront €817.4 million on a 1.2 per cent windfall tax on 2022 and 2023’s excess profits.

Banks have also provided another €637.1 million through a 4.8 per cent levy on their net profits over €800 million, announced Finance minister Maria Jesus Montero on February 20 when 50 per cent of the taxes fell due.

Both of the temporary taxes were introduced to compensate for the government’s anti ­ inflationary measures offsetting the cost of living crisis faced by many families.

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