Govt slams Spanish multinational's move to the Netherlands
Pedro Sánchez’s government has criticised the decision by Spanish infrastructure multinational Ferrovial to move its headquarters to the Netherlands, considering it "owes everything to Spain" for having benefited from billions in state contracts.
"This is a company that owes everything to Spain. It is not acceptable that a company that was born and developed in Spain thanks to the public investment of Spanish citizens, shows this lack of commitment to its country," Spain’s Ministry of Economic Affairs told AFP in a statement.
"We are waiting to know the details to analyse and closely follow the possible implications of this erroneous decision," the ministry added with regard to the Spanish multinational established in 1952.
Economic Affairs Minister Nadia Calviño has reportedly voiced the government’s disapproval in a phone conversation with Ferrovial’s general director Rafael del Pino.
Ferrovial, part owner of London's Heathrow airport and numerous highways in the United States and Canada, announced on Tuesday its willingness to become "a European limited company" with "a head office in the Netherlands."
The €19-billion company has linked the move to the growing international business activities, but politicians and analysts agree that it’s most likely down to the Netherlands’ more advantageous tax system.
According to El País, Ferrovial has been awarded more than €1 billion in state contracts during the Sánchez era and €9 billion since 1991. It also has not paid corporation tax since 2020.
Only last January, Ferrovial head Del Pino said, “I believe that we must turn Spain back into an attractive investment destination and a magnet for the best talent, and for this we need a competitive labour framework and legal certainty in all areas.”
"Without any shame, a Spanish company tells us that it is moving its head office to the Netherlands, because tax conditions there are better. We are talking about tax dumping," Spanish Labour Minister Yolanda Díaz argued.
"Ferrovial is a very important company in our country, which has also grown thanks to huge contracts awarded by public administrations and the risk they entail" Díaz added, asking the company to reconsider its decision.
By contrast, Spain’s right-wing opposition has said that "the decisions" of companies must be respected, with Popular Party spokesperson Cuca Gamarra blaming the situation on the country’s ruling party and the "lack of legal security" in Spain .
“Nadia Calviño must ask herself the following questions: ‘Have I done something to make (Ferrovial) stay?’,” Gamarra told journalists
“Or have I done something to push them to have to leave? Am I responsible for the lack of legal certainty that makes many companies have to opt for other countries?"
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"This is a company that owes everything to Spain. It is not acceptable that a company that was born and developed in Spain thanks to the public investment of Spanish citizens, shows this lack of commitment to its country," Spain’s Ministry of Economic Affairs told AFP in a statement.
"We are waiting to know the details to analyse and closely follow the possible implications of this erroneous decision," the ministry added with regard to the Spanish multinational established in 1952.
Economic Affairs Minister Nadia Calviño has reportedly voiced the government’s disapproval in a phone conversation with Ferrovial’s general director Rafael del Pino.
Ferrovial, part owner of London's Heathrow airport and numerous highways in the United States and Canada, announced on Tuesday its willingness to become "a European limited company" with "a head office in the Netherlands."
The €19-billion company has linked the move to the growing international business activities, but politicians and analysts agree that it’s most likely down to the Netherlands’ more advantageous tax system.
According to El País, Ferrovial has been awarded more than €1 billion in state contracts during the Sánchez era and €9 billion since 1991. It also has not paid corporation tax since 2020.
Only last January, Ferrovial head Del Pino said, “I believe that we must turn Spain back into an attractive investment destination and a magnet for the best talent, and for this we need a competitive labour framework and legal certainty in all areas.”
"Without any shame, a Spanish company tells us that it is moving its head office to the Netherlands, because tax conditions there are better. We are talking about tax dumping," Spanish Labour Minister Yolanda Díaz argued.
"Ferrovial is a very important company in our country, which has also grown thanks to huge contracts awarded by public administrations and the risk they entail" Díaz added, asking the company to reconsider its decision.
By contrast, Spain’s right-wing opposition has said that "the decisions" of companies must be respected, with Popular Party spokesperson Cuca Gamarra blaming the situation on the country’s ruling party and the "lack of legal security" in Spain .
“Nadia Calviño must ask herself the following questions: ‘Have I done something to make (Ferrovial) stay?’,” Gamarra told journalists
“Or have I done something to push them to have to leave? Am I responsible for the lack of legal certainty that makes many companies have to opt for other countries?"
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