Spain’s economy and its regulatory framework will change radically over the next few years. Change is of course a mix of risk and opportunity, but it is critical to know what is going on if you have business interests there. Fortunately, Ketchum is here to help.
It is widely known that Spain has been ruled by the Socialist party in a minority government for the last eight years. Severely limited by not having a working majority, reforms were limited in scope and in the recent elections Spaniards overwhelmingly voted for change. The result of these elections gave Mariano Rajoy, head of the centre-right Popular Party, a clear working majority in the central Government, most of the Autonomous Regional Governments (elections are due in Andalusia in late March) and most large cities.
At the same time that the Popular Party has an electoral mandate for change, Spain is under tremendous pressure from the European Community and the IMF to deregulate the Spanish economy to reduce unemployment and structural rigidities while also slashing the budget deficit.
So we have a reformist government with an absolute parliamentary majority intent on restructuring the Spanish economy. After the major overhaul of the labour laws, which by now have been well-analysed in the media, over the last few weeks every Minister has attended parliamentary hearings where they have presented their legislative plans. This will affect everything from industry, to commerce, agriculture, healthcare, energy, tourism, etc.
Our public affairs team at Ketchum Lenci have studied and summarized their plans in a complete document . If you do business in Spain or have an operation there, it will be affecting you sooner than you think. If you want assistance in tracking what is going on or making sure your voice is heard as the legislation is being prepared, we are here to help you.
Tony Noel, CEO Ketchum Pleon
Jose Ramón Caso, CEO Ketchum Lenci