Politics · Spain · 1 hr ago
Spain’s economy minister says savings should have alternatives to housing investment
Spain’s Economy Minister Carlos Cuerpo says the government wants people to have ways to invest their savings other than buying homes.
He defended measures including a housing law to protect tenants from rent increases in areas under pressure and support for young people seeking to buy their first home.
Cuerpo said Spain’s housing shortage has roots in a long decline in construction and years of limited public housing development.
He also pointed to rising building costs after the energy shock linked to the war in Ukraine and to homes shifting into tourist rentals as tourism recovered after the pandemic.
He said there is no single solution and argued that savings have traditionally gone mainly into housing or stayed in bank accounts.
The government has proposed a savings and investment account with tax deductions as another option for savers.
Cuerpo said a recent housing decree led the prime minister to dissolve parliament so voters can choose what approach they want.
Spain’s economy minister, Carlos Cuerpo, said the government wants to give people alternatives to investing their savings in housing.
He said a new savings and investment account would offer an alternative through large tax deductions.
Cuerpo said savings in Spain have for decades mainly gone into housing or remained in current accounts.
He linked the housing crisis to a decline in construction, higher building costs and a shortage of public housing.
He also defended the government’s housing measures, including support for renters and efforts to expand public housing.
- Who
- Carlos Cuerpo, Spain’s economy minister and a deputy prime minister.
- What
- He said the government wants savings to have alternatives to investment in housing, including through a new savings and investment account.
- When
- In an interview published on October 12, 2026; Cuerpo said it was given the previous Friday.
- Where
- Spain.
- Why
- Cuerpo said savings have mainly gone into housing or sat in current accounts, and he wants to encourage investment in other destinations.
This story does not have two clearly opposing sides.
We want Spaniards to have alternatives to housing as an investment for placing our money and earning a return with some guarantee.
There is no silver bullet; measures are needed that cover all these aspects.
Construction costs rose sharply, including because of the energy shock caused by the war in Ukraine.
Cuerpo became economy minister.
Cuerpo became a deputy prime minister.
Cuerpo gave the interview to El País, according to the article’s publication date and description of it as having taken place the previous Friday.
El País published the interview.
- Minister
- Carlos Cuerpo
- New measure
- Savings and investment account with large tax deductions
- Construction sector share of GDP
- Fell from 13% to 6%
- Rental support
- A deduction of up to 10% of the price
- Article publication
- October 12, 2026
Sources
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