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Spanish Flood Relief Package

The Spanish government announced a significant aid package totaling 14.373 billion euros to support individuals and businesses affected by recent devastating floods.

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Spanish

Spain

Labour MarketGovernmentFloodAidFinancialEconomic

Spanish GovernmentIcoSepeCorreosSepes

Pedro Sánchez

What measures are in place to protect employment in the affected areas?: Measures to protect employment include paid leave for those affected by the floods, promotion of remote work, and a ban on dismissals for those who use the financial aids and ERTE. A plan will create 50 million euros in jobs focused on reconstruction in affected areas.
What tax relief measures are available for those affected by the floods?: Tax relief for those affected includes a 25% reduction in the modules tax for self-employed individuals and a reduction in VAT, along with exemptions on IBI and IAE taxes for 2024. The deadline for the second payment of income tax has also been extended to 2025.
What types of financial aid are available for businesses in the affected areas?: The government is providing various forms of financial support for businesses, including direct aid based on company size, avales to facilitate financing, and support for the agricultural sector and cultural institutions. The ICO will manage a 1,000 million euro line of credit with an 80% guarantee.
What is the total amount of aid approved by the Spanish government for those affected by the recent floods?: The Spanish government approved an additional 3.765 billion euros in aid for those affected by recent floods, bringing the total to 14.373 billion euros. This aid package includes direct financial assistance, housing support, and measures to protect jobs and businesses.
What types of financial assistance are available for those who have suffered housing damage due to the floods?: The aid will provide financial assistance for housing damage, ranging from 10,320 euros for essential household goods to 60,480 euros for total home destruction, with extensions for renters and non-resident owners. Support is also being provided for lodging with 25 million euros designated for expanding housing options for those affected.

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