Spanish government to discuss windfall tax on banks with big lenders next week

On Tuesday, Prime Minister Pedro Sanchez announced temporary taxes on energy companies and banks that should bring in €7bn in 2023-2024.

The announcement from Spain's Prime Minister Pedro Sanchez came as a surprise with many big banks arguing against the tax. Picture: AP Photo/Mindaugas Kulbis.

The Spanish government will meet with domestic banks next week to discuss a planned €3bn levy on big lenders included in a package to raise funds to help tackle the rising cost of living, Economy Minister Nadia Calvino said on Thursday.

"Next week, I will meet with the Spanish banking sector, with associations and the main lenders," Calvino told public broadcaster RNE, adding she hoped such measures would not hurt investment or have a negative impact on lending.