Spain targets €16bn to help mitigate price inflation from Ukraine war     

Spain, together with Portugal, will send a proposal this week to the EU to cap gas prices

The government will offer some €6bn in tax breaks and direct aid with another €10bn in loans for small- and medium-sized companies as part of a sweeping package of policies to counter surging costs, Prime Minister Pedro Sanchez said in Madrid.

Spain plans to hand out about €16bn to households and businesses through the end of June to mitigate the impact of the war in Ukraine.

The government will offer some €6bn in tax breaks and direct aid with another €10bn in loans for small- and medium-sized companies as part of a sweeping package of policies to counter surging costs, Prime Minister Pedro Sanchez said in Madrid. The package will be approved later on Tuesday by the Spanish cabinet, he said.