Spain’s left-wing government announced plans to raise taxes on large companies and high earners to fund increased spending on social care and infrastructure as part of its progressive agenda.With the coronavirus-battered economy expected to shrink an unprecedented 11.2% this year and tax revenues due to ebb 7.6%, the government aims to boost 2021 budget revenues by 6.8 billion euros ($8.04 billion)

Spain's left-wing government announced plans to raise taxes on large companies and high earners.