In a recent address at the San Pablo CEU University in Madrid, Alberto Nadal, the deputy secretary of economy and sustainable development for the People's Party (PP), condemned the Spanish government's handling of several critical issues, including railway accidents, a nationwide power outage, and a housing crisis. He attributed these problems to a common root: a significant lack of investment.
Nadal stated, “There is a lack of investment, a failure to look to the future, and the use of public resources solely to gain popularity.” He accused Prime Minister Pedro Sánchez's government of prioritising its political survival over necessary investments to modernise Spain and create new opportunities for its citizens.
“Their only objective is to remain in power amidst continuous parliamentary instability, with impossible coalitions and no investment in the future,” he added. Nadal highlighted that no previous government has collected more tax revenue, issued more public debt, or had access to more European funds than the current administration. Yet, he noted, Spain ranks among the lowest in Europe for public investment.
He called for increased investment, a prioritisation of public spending, and tax reductions, particularly for entrepreneurs and hard-working individuals. “We must harness the strengths of the country,” he asserted. “A consequence of not investing is that productivity does not increase. Without an increase in productivity, salaries do not rise. Furthermore, the continuous creation of fiscal burdens to buy votes, while simultaneously pressuring the lower end of the salary scale, results in diminishing returns for skilled labour,” he explained.
Nadal also condemned the Sánchez government for “stealing the future” from young people by failing to create the necessary conditions for investment, strengthening institutions, developing appropriate energy policies, and incorporating new technologies. He pointed out that Spain constructs between 100,000 and 130,000 homes annually, despite a deficit of nearly one million houses, and criticised the government's interventionist policies in the rental market. “If more people want housing than there are homes available, someone will be left without access,” he summarised.
He further argued that regulatory obstacles and bureaucracy hinder the construction of new homes, leading to delays of ten to fourteen years from urban planning approval to house delivery. Nadal accused the government of creating insecurity for property owners and encouraging the withdrawal of rental properties from the market, questioning policies that prevent the recovery of occupied homes. “Intervention and uncertainty disincentivise supply, exacerbating access difficulties, especially for young people,” he stated.
Finally, he emphasised that Spain must seize the opportunities presented by the artificial intelligence revolution to become a more productive and competitive economy. He critiqued government messages against data centres and large tech companies, asserting, “Our education must improve, becoming much more practical, incorporating new technologies, and restoring vocational training, which is currently in decline. All of this is essential for us to enhance our productivity.”
