Candidata de Podemos against Cifuentes predicts that in 2019 Madrid's debt will reach 200% and bankruptcy alert

The spokeswoman of Podemos in the Assembly of Madrid and candidate of its party to the motion of censure against the president of the Community, Cristina Cifuentes, that is being debated today, Lorena Ruiz-Huerta, has criticized the “unsustainable model” of the Government of the PP predicting that by 2019 the regional debt would reach 200% of spending and that if interest rates go up the Community could go bankrupt.

The spokeswoman of Podemos in the Assembly of Madrid and candidate of its party to the motion of censure against the president of the Community, Cristina Cifuentes, that is being debated today, Lorena Ruiz-Huerta, has criticized the "unsustainable model" of the Government of the PP predicting that by 2019 the regional debt would reach 200% of spending and that if interest rates go up the Community could go bankrupt.

 MADRID, 8 (EUROPA PRESS)

The spokeswoman of Podemos in the Assembly of Madrid and candidate of its party to the motion of censure against the president of the Community, Cristina Cifuentes, that is being debated today, Lorena Ruiz-Huerta, has criticized the “unsustainable model” of the Government of the PP predicting that by 2019 the regional debt would reach 200% of spending and that if interest rates go up the Community could go bankrupt.

“The basis of the Popular Party’s management model in our Community is indebtedness, Cifuentes accounts show a structural deficit that is on its way to becoming endemic, the system is incapable of generating sufficient resources to sustain itself, and the forecast, in a moderate scenario, it is that, at the end of this term, the indebtedness of the Community of Madrid could reach 200% of annual expenditure, in 2019 we will have a debt of over 36,000 million euros, “he said at the Plenary. the motion

This debt, as he has continued, is financed through the international financial markets, “which are the big beneficiaries of the budgets of the PP Government”. “To finance your liquidity needs, you refuse to resort to public resources such as the FLA, you hide your errors in the forecast of tax revenues, going to the private sector to apply for loans, and you also subscribe these credits at a variable interest rate. , in a context of low rates that will not last, and you know it, “he said.

In addition, the deputy of Podemos has stressed that the interest rates set by the ECB constitute “the great ‘sword of Damocles'” on Madrid accounts as any upward movement of interest rates “will have an immediate impact on the accounts from Madrid, generating, not only structural problems, but also liquidity “. “At that time, the Community of Madrid would enter a state of technical bankruptcy, and this assertion is neither left nor right, nor populist: they are pure mathematics,” he says.

At that time, Lorena Ruiz-Huerta has called on the regional president to go up to the rostrum and explain to the locals how he will manage “the debt hole that his government and his predecessors have generated.” “You do not dare to confront the people of Madrid to explain that, when that dreadful moment arrives, the same thing will happen: that the debt will be paid by the people of Madrid with a new VAT increase, with cuts in public services, or with a worsening of working and living conditions, “he pointed out.

“Nor are you concerned about giving proper explanations about the Lezo or Punic cases: you preferred to appear in the Investigation Committee and not in the Chamber, protected by a ‘Detente’ of the Civil Guard in the lapel, which might scare off your own fears , but that was carried away any glimpse of convincing explanation to the citizenship, on its participation in the adjustment of the contract of the cafeteria “, has continued.

The candidate has also criticized the fiscal policy of Cifuentes, “of redistribution of wealth to where the rich live” and which centers the bulk of its tax exemptions in the bonuses of the taxes of Patrimony, Property Transfers and Successions, and in the collection fiscal to IRPF, a tax that does not tax most of the wealth of the Community of Madrid.

“According to the financial survey of the families of the Bank of Spain, in terms of wage income, the richest 10% of the population of Madrid earns 12 times more than the 20% who earn the least, while in terms of wealth and financial wealth, 10% of people with greater wealth and financial wealth, have 1,295 times more wealth, than the 25% that has less.The bulk of this wealth differential, which does not capture the IRPF, is not taxed in the Community of Madrid ” , has argued.

TAX REFORM

Image result for tax reformFor all this, Ruiz-Huerta has bet to recover the Heritage Tax; and an Inheritance Tax, “exempt for the great majority of the population but fair for the great patrimonies, that flee from the fiscal ‘dumping'”. “We will equate Property Transfer Taxes to the state modal types, introducing corrections based on the heritage of origin, that is, lower taxes to the social majority and upload them to those who have more.” That is clear, “he promised.

The deputy has attacked again against the model “of brick and speculative bubbles” of the PP of Madrid that, in his opinion, “generates little employment and of bad quality”. “The employment figures are the data on which your Government is glossed, let’s call them great achievements, and on which you have tried to validate your budgets, you affirm that your tax cuts will revive the demand, generate employment, and improve the collection. its economic mantra, however, the creation of jobs of his Government, in 2016, barely exceeded 15,000 net jobs, “he stressed.

On the other hand, Ruiz-Huerta recalled that the PP often complains about the system of regional financing. “But your government, Mrs. Cifuentes, benefits from many of the circumstances that come with the status of capital of Madrid: the radio communications system, the airport hub of Barajas, the nuclear power plants that, located in Extremadura, generate energy that is consumed and taxed in Madrid, and all the human capital that works and taxes in Madrid for being the business headquarters and official bodies, and all this is done with resources that all Spaniards pay, at least those that we do not pay in Panama ” , has apostilled.

At that point, Ruiz-Huerta has ruined his tax “dumping” policy for estate and inheritance taxes. “His model of territorial cohesion consists in showing more flags than anyone else in his belt or wrist, but for us, the common project of all the peoples of Spain is only built with solidarity and justice,” he explained.

Finally, the candidate of the motion has accused the PP to leave the fate of the economy of Madrid “in the hands of the whims of foreign investment” trying to capture capital out of the Brexit. “There is no engine of endogenous economic growth in the Community of Madrid, everything is at the mercy of an extraordinarily uncertain international situation, as well as the chance that a future real estate bubble could run, when we are still paying the price of the previous one. Politics is economically uncertain, socially unjust, and environmentally devastating, “he concluded in this section.