Monday, September 05, 2011

Poll indicates Spain will reject ruling Socialists in next election

The People’s Party may win 47.1 percent of the vote, compared with 32.3 percent for the ruling Socialists, El Mundo reported yesterday, citing a poll. That would give the party a majority of seats in the 350-member Parliament in Madrid, the newspaper said.

Rajoy, who has lost two general elections since becoming PP leader in 2004, promised a “law for entrepreneurs” that would include a 5 percentage-point cut in company tax. In a Sept. 3 speech, he also promised a “true restructuring of the financial sector” and changes to labor and energy-market laws.

The euro region’s fourth-largest economy is holding elections four months ahead of schedule after an escalation of the sovereign-debt crisis prompted the European Central Bank to start propping up Spanish and Italian bond markets last month. If Rajoy wins the November ballot, he will have to tackle slowing economic growth and Europe’s highest unemployment rate and stem a surge in company bankruptcies.