Wage increase

THE Spanish government has decided to increase the minimum wage by 8% for 2023.

The raise will mean about 2.5 million low/salary workers will receive €1,080 gross per month in 14 payments installations.

Labour minister Yolanda Diaz said the increase ‘is not just another piece of information’ but ‘makes it possible to change people’s lives’.

The increase will be applied retroactively from January 1.

a new increase in the payout from 31.8% to 50%.

Neovantas believes the banks face an uncertain 2023 due to temporary windfall taxes such as the tax on banks and mortgage relief measures.

Jobs

It expects delinquency to rise and reach levels above 5%, since the last available figure of 3.68% recorded in November 2022. The news comes two years after a total of 19,000 bank employees lost their jobs, almost all through state-approved ERE layoffs, meant for companies struggling financially.