Botín (Santander): "You have to pay taxes, but if you pay too much, people leave"

MADRID, 31 Oct.

Botín (Santander): "You have to pay taxes, but if you pay too much, people leave"


The president of Banco Santander, Ana Botín, defended this Tuesday the payment of taxes, although she considered that if they are high, they could represent a disincentive to investment. "It's not quantum science. You have to pay taxes, but if you pay too much, people leave," she specifically pointed out.

During the inauguration of the 2023 International Banking Conference organized by Santander, Botín stated that there are people and companies in Spain that "are paying more than 50% of their income to the Government", which represents a "lack of incentives" not only for residents in the country, but for foreign investors.

It should be remembered that the government pact between PSOE and Sumar contemplates that the temporary banking tax, planned only for 2023 and 2024, will be maintained indefinitely.

Since the announcement of this figure, in July 2022, the banking sector has been against it, defending that they pay "too many taxes", that it is a measure that can reduce the granting of credit and that, in addition, it would be wrong designed to tax income, not profits. In fact, both bank employers and the entities themselves have appealed against this tax before the National Court.

Along these same lines, Botín has stated that "there is no conflict" between growth and inclusion. "Sometimes it feels like we want to redistribute, but if we don't grow there will be very little to redistribute," he defended, before ensuring that he wants a "fairer society and not leaving anyone behind."

"I think there is a way that is not a race in which one wins and another loses, where taxes are raised on large companies to redistribute. No, you can pay less taxes and everyone can do better," he said. added.

Thus, he has asked for regulation that is in favor of growth, he has defended competition and he has recalled the role of the sector in the economy. "Banks are essential for you to buy a house or start a business. You need financing to grow and 70% of this financing in Europe comes from banks," she said.