スペインの福祉社会を維持するためには、税金収入を増加させるべき。スペインの国家財政支出は国内総生産(GDP)の44%で、国家税金収入(歳入)はGDPの37'8%。欧州27ヶ国では45'4%。
LA CUARTA PÁGINA
Sin más ingresos, adiós al bienestar
Aunque 2013 ha sido un buen año para el déficit público, tenemos un grave problema de recaudación fiscal. Hay que aumentar la presión si queremos mantener algunos programas clave del modelo social
José Ignacio Conde-Ruiz / Juan Rubio-Ramírez 9 ABR 2014 - 00:00 CET
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THE FOURTH PAGE
Without more revenue, welfare goodbye
Although 2013 has been a good year for the deficit, we have a serious problem of tax collection. We must increase the pressure if we want to keep some key social model programs
Jose Ignacio Conde-Ruiz / Juan Rubio-Ramírez 9 ABR 2014 - 00:00 CET
At first glance, 2013 has been a good year for the deficit. The Government has achieved remarkable success by making public a deficit of -6.6 % of GDP for the whole of government ( AAPP) and regardless of bank aid. So , we have been very close to the target committed to Brussels from -6.5 % of GDP. The success is even greater when you consider that just a few weeks ago, most of the predictions yielded more negative figures. Therefore, we can not begin this article without congratulating the Government in general and the Ministry of Finance in particular. Given the current economic climate , getting these numbers is a success in itself.
How have we come to this figure ? In 2012 , the deficit was 6.84% of GDP , so that during 2013 this has been reduced by 0.22 percentage points of GDP . The reduction is mainly due to increased revenues (0.59 points of GDP) and spending increased by 0.38 percentage points of GDP .
But not all lights, there are also shadows. First, part of the success is due to the behavior of local councils , which have achieved a historic surplus of 0.4 % of GDP. It is inconceivable that such data may be repeated in a pre-election year 2014.
Second , despite many attempts , the data indicate that we still have a serious problem of public revenue. Why do we say that? Because the government has failed to meet its revenue objectives . The budget for 2013 contained a provision for income tax 174 099 000 euros, but has only managed to raise 168 847 000 . Stresses the case of VAT , where hopes were deposited after the regulatory changes in late 2012. The budget for 2013 collected intends to raise nearly 55,000 million at the end being the collection of 51,900 million. This problem is reflected in tax collection revenues on the lowest GDP when we compare with Europe ( 37.8 % versus 45.4 % in the EU -27) . The low tax burden creates serious doubts about the sustainability of our public finances in the long term .
Two games will go irretrievably : interest payments and expense associated with aging
Third, expenditure data are not as good as they seem because these are still above 44% of GDP. If we compare this figure with our low tax burden , leading from the start of the crisis below 38 % of GDP , we understand why the doubts about the sustainability of our public finances in the long term . We need to generate more revenue , there's no doubt that in the coming years there are two items that will go irretrievably interest payments and the costs associated with an aging population. Therefore, the only solution is to increase revenue. The government still refuses to accept this fact .
As evidence of this resistance , the report of the expert committee on tax reform introduced a few weeks ago worked on the assumption of maintaining a tax burden below 40 % of GDP ( as reflected in the stability program submitted by the executive Brussels ) . Even agreeing with most of the recommendations of the commission, it seems to us impossible to sustain our welfare state with such a low tax burden. The sooner action is taken to increase tax , better pressure. A tax reform without increasing the tax burden is nonsense . Do not let the ( undeniably ) good data of 2013 confused us in this regard. It is dishonest to convince the Spaniards that we can maintain the welfare state that we have the lowest tax burden we enjoy . Or increase revenue or be forced to dismantle some of the welfare state programs . This is reality.
Our stock of public capital is deteriorating , adversely affect our potential GDP
Furthermore, without wishing to enter into pessimism, it is noteworthy that most of the expenditure control has been redone reducing investment (down more than 17% ) . Our stock of public capital is deteriorating , which will have large negative effects on our potential GDP. By contrast , current expenditure has increased compared to 2012.
But back to the lights. One of the greatest achievements of Finance during this term has been to introduce a greater accounting transparency . Many good are the data that are now available to the public . Furthermore, it appears that the general government accounting is being done under the closest ( most reasonable ) accrual basis of what criteria historically used to do . This can be seen clearly in the evolution of intermediate consumption in 2013 compared with the prior year. While intermediate consumption increased significantly during the first three quarters of 2013 year on year , fell dramatically in the fourth .
This led many analysts to be wary of public accounts in the fourth quarter , wanting to see tricks where only an accrual basis more in line with common sense. Now intermediate consumption is recorded more evenly throughout the year , whereas previously concentrated in the fourth quarter . This reasonable change in accounting method is also one of the reasons why many analysts ( including us ) predicted a greater deficit finally published .
But this is not the only reason behind the predictive errors. Before the publication of data deficit for 2013 on 31 March, the ministry 's statistics reflected the deficit at 30 September was almost 50,000 million euros. A March 31, 2014 that number has dropped by nearly 4,000 million. How is that possible? We're not sure , but it is confusing and should be explained , because it creates unnecessary uncertainty . Finance can not let this tarnish shadows as achievements in relation to accounting transparency . Better communication policy would be desirable , especially in relation to the two points mentioned above .
A very dark shadow hanging over almost every light : the growing public debt
Finally , and unfortunately , a very dark shadow hanging over most of the lights : the public debt. This has reached almost 94 % of GDP , which makes us think we will reach 100 % by the end of this year. In addition , we highlight two important and troubling things .
First, the debt has increased more than the deficit ( without considering the associated part to aid the financial system ) and carries behaving this way since 2011 . Primarily this is because the provider payment plans , contributions to the European Stability Mechanism and the electricity rate debt . Secondly , the debt is 94% of GDP, the Treasury cash has been reduced by about 12,000 million euros in 2013. If the box had remained at the level with which it began the year , the debt had reached higher levels . This rising debt is, again , a reflection of our low tax burden. We need more revenue.
Thus we conclude . While it is essential to clarify any doubts after the good figures for 2013 , the real dilemma we face as a society is: climb or income or some key dismantle our welfare state programs. Will the government will have the courage to ask this question to citizens or hide behind the good figures for 2013 deficit ?
Jose Ignacio Conde- Ruiz ( Universidad Complutense ) and Juan Rubio- Ramirez ( Duke University ) , both are researchers FEDEA .
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