In 2017, the average Spaniard will have worked 178 days in order to fulfill their tax obligations. In other words, Tax Freedom Day, calculated annually by Think Tank Civismo, takes place on 28 June, one day ahead of last year’s.
The situation on the Spanish labour market is being debated by specialists and policy makers with respect to two central questions: on the one hand, the type of employment that is being generated following the crisis and, on the other hand, the medium-to-long term sustainability of this job creation.
As the Spanish economy recovers, rethinking education reform should be a top priority. Spanish workers are Europe’s most overqualified, but also suffer from the greatest skill mismatch, lacking the skills necessary for their jobs.
It is increasingly evident that public pensions are going to be hard to sustain in the future: the ratio of workers to pensioners is close to a historical low. The crisis has taken nearly two million contributors out of the system, and adds to another variable that proves a greater challenge and is even more difficult to reverse: demographics.
When former Prime Minister José Luis Rodríguez Zapatero and his Socialist party (PSOE) took office in early 2008, they argued that Spain was not entering an economic crisis, in spite of the fact that all macroeconomic indicators pointed to the contrary.