The Civil Society Forum proposes taxing large fortunes to drive a change in the economic model
The entity will present a document in November with proposals to reduce dependence on tourism, facilitate access to housing, and diversify the economy, which also includes an increase in the ITS and a tax on rental cars
The Civil Society Forum presented a document this Wednesday to define the future economic model of the Balearic Islands. The text, which will be debated at the congress on November 13, advocates for a reduction in the weight of tourism in the Balearic economy and proposes measures to favor productive diversification, including the creation of a tax on large fortunes that, according to the Forum's own calculations, could raise up to 325 million euros annually.
Those responsible for the entity consider that the current model has accentuated the concentration of wealth and has exacerbated problems such as access to housing (citizens have to dedicate more than 50 years of their salaries to buy a home) and pressure on the territory. During the presentation, they pointed out that the richest 1% concentrates 27% of wealth, while half of the population only has 4.7% of wealth. They also recalled that the Balearic Islands are the third island territory in the world with the highest tourist intensity, a fact that degrades the environment and living conditions.
Based on this diagnosis, the document opts for progressively reducing dependence on tourism and strengthening other economic activities with measures such as limiting tourist places, controlling flows at ports and airports, promoting innovation and research, strengthening the primary sector, and consolidating the industry that still remains in the Balearic Islands.
In the area of housing, the Forum advocates for expanding public housing, limiting the purchase of properties by large holders and non-residents, and declaring the Balearic Islands a tense zone so that the measures provided for in the State Housing Law can be applied.
Regarding the environment, the document opts for promoting public transport, increasing the weight of renewable energies to cover 50% of consumption in the next decade, and reducing carbon dioxide emissions by 40% in ten years.
To finance this set of measures, the Forum proposes several avenues. In addition to the tax on large fortunes, it proposes increasing the Sustainable Tourism Tax (ITS) by 150%, creating a tax on rental cars, and promoting an investment fund for strategic projects. According to their calculations, the tax on large fortunes could contribute up to 325 million euros annually, while the increase in the ITS would generate about 40 million.
