The richest Catalans earn 60 times more than the average

BarcelonaCatalans in the highest personal income tax bracket, that is, those earning more than €601,000 a year, earn up to 60 times more than the average. This figure, which includes the general tax base and the savings from this tax, is slightly lower than the difference among Spain's richest people, who earn up to 64 times more than the average. The regions with the greatest disparity are the Region of Murcia (89 times), Andalusia (73.2 times), and the Valencian Community (71.4 times).

These are estimates made by the union of technicians at the Ministry of Finance (Gestha) in its latest report, in which they conclude that the growth of the Spanish economy is not equitable, but on the contrary, because it is concentrated to a greater extent among the most privileged. "The increase in hiring does not reveal a redistribution of income despite successive increases in the minimum wage," they assert in a statement. Gestha believes that "the extreme concentration of income and wealth" is a risk to inclusive growth and, at the same time, a burden on social cohesion. The data was compiled from the 2023 Personal Income Tax statistics from the Tax Agency.

The region with the lowest difference is Madrid, which, despite having the highest number of taxpayers earning over €601,000, also has the highest average income, at €33,451. Thus, the difference is 46.4 times the lowest, along with La Rioja (48.5), Asturias (51.4), and the Balearic Islands (52.3).

Wealth inequality

However, the union highlights that the 149,685 people earning more than €150,000 a year receive 52.9% of capital income and capital gains (€22.375 billion), although they represent only 1.6% of taxpayers. Those earning the most capital income are in the Community of Madrid and the Balearic Islands.

According to Gestha, this analysis of income earners indicates that there is both income inequality and wealth inequality, which is even greater because a large proportion of them amass enormous financial capital, mainly in stocks and investment funds, to obtain huge savings income each year.

Therefore, Gestha proposes that the state and regional governments strengthen tax systems and redistribute spending to improve equity and equal opportunity for those who need it most, in line with the recommendations of the IMF, which supports "structural fiscal reforms" that increase by increase by increase.