Spain’s hard-right party Vox has unveiled a radical economic plan that proposes deep tax cuts across the board, a sharp reduction in local government spending and a clampdown on illegal squatting and foreign access to housing.
The 38-page policy plan, dubbed The Hexagon of Prosperity, was presented by MPs Carlos Hernandez and Jose Maria Figaredo and outlines the party’s most ambitious economic vision to date.
At its core: a complete overhaul of Spain’s tax system and pension model, alongside a push to restore nuclear energy and reject EU climate obligations.
Tax cuts across the board
Vox’s economic agenda includes a three-tier personal income tax system with a tax-free threshold of €22,000. Incomes up to €70,000 would be taxed at 15%, with earnings above that taxed at 25%.
In addition, each child or dependent would reduce a taxpayer’s rate by four percentage points – part of a wider package expected to bring €40 billion in tax relief.
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Corporate income tax would be cut from 25% to 15%, a move estimated to cost €10 billion. VAT would also be rolled back to pre-2012 levels – reducing the standard rate to 18% and the reduced rate to 8% – a €14 billion hit to state coffers.
For the self-employed, Vox wants to abolish the social security fee for anyone earning below the minimum wage.
Pensions: A Swedish-style mixed model
The party is pushing to replace Spain’s pay-as-you-go pension system with a mixed model that includes a publicly managed pension fund tied to private market returns, drawing on the Swedish example.
Vox also proposes tax exemption on all retirement savings with no cap, so long as withdrawals occur after retirement.
Housing: Spaniards first, foreign investors taxed
Housing policy is another flashpoint. Vox proposes eliminating VAT on first-time home purchases and reintroducing tax deductions for home buying, renting, and intergenerational property transfers. The plan also includes soft loans and state-backed guarantees for young buyers, scaled by family size.
The party insists Spaniards should be prioritised for housing access, pushing for bans on renting to undocumented immigrants and additional taxes on property purchases by non-EU citizens. It wants social housing allocation to be based primarily on length of residency and family roots in Spain.
Vox also proposes scrapping rent control laws, increasing housing supply through subsidized construction, expanding land availability, and offering full discounts on property donations between family members if used to purchase a home.
A hard line on squatting and local spending
Taking aim at what it calls Spain’s ‘squatter problem,’ Vox pledges to adopt a ‘zero tolerance’ policy and strengthen criminal penalties for illegal occupation. It also calls for a significant cut in municipal and regional spending as part of a broader effort to reduce the public deficit.
Nuclear energy in, Paris Agreement out
On energy, Vox is pushing to revive Spain’s national nuclear plan and stop the phased closure of the country’s reactors – currently scheduled between 2027 and 2035. It is also calling for Spain’s immediate withdrawal from the Paris Agreement and the EU’s Green Deal.
The economic overhaul marks a clear bid to position Vox as the party of fiscal hawkishness and cultural conservatism ahead of the next general election, offering a stark contrast to the government’s current direction.
