Commissioner for Economic and Monetary Affairs said Spain’s VAT hike in July will not result in

Rehn has confirmed that European Commissioners will assess the updated stability program from Spain, which includes the VAT increase, which is now a subject of political battle between the government and the opposition.

Commissioner for Economic and Monetary Affairs said Spain’s VAT hike in July will not result in "significant negative impact

Asked his opinion about it during the final press conference of the Council of Ministers of the Economy and Finance of the EU, the commissioner has also added that the tax increase "will help reduce the deficit" in Spain.

Rehn has confirmed that European Commissioners will assess the updated stability program from Spain, which includes the VAT increase, which is now a subject of political battle between the government and the opposition.

Without wishing to discuss details of the evaluation of the EC, Rehn has said the EU executive "welcomes the determination of the Spanish Government in its efforts to" ensure that it effectively achieves fiscal consolidation. "We fully support Spain in the effort to achieve sustainability of public finances," said Rehn, who joined the Spanish Second Deputy Prime Elena Salgado at the press conference of the Ecofin.



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