Spain seeks to claw back fiscal margin in Brussels for new energy crisis package

The Spanish government is seeking to create fiscal space to present a new package to address the energy crisis. According to El Pais Economia, it is considering asking the European Commission to partially suspend fiscal rules to allow for increased spending without breaching commitments made in Brussels. This new package is set to be approved at the Council of Ministers meeting, alongside a housing decree.

The government's efforts come as Spain faces significant fiscal pressure due to an ageing population, with the European Commission warning that it will have the highest future fiscal pressure in the EU. Expansion ES reports that this pressure is expected to peak in the coming decades as the baby boom generation retires.

The Spanish government had previously introduced measures to encourage delayed retirement and promote complementary savings, but the country still lags behind the rest of the EU in terms of retirement savings plans.

Brief written by urgent.news from El Pais Economia, Expansion ES — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.