Spain’s President Pedro Sánchez announces guarantee line for young people’s first home mortgage

The President of the Government, Pedro Sánchez, has announced the creation of a line of guarantees through the Official Credit Institute (ICO) to guarantee 20% of the mortgage on a first home for young people under 35 years of age with annual income of less than 37,800 euros and for families with dependent children.

This was stated this Sunday by Sánchez in his speech at the presentation of candidacies in Santa Cruz de Tenerife, where he has claimed this new measure that the Government will approve in the Council of Ministers this Tuesday as a response to the “housing emergency”.

“We are going to put housing at the center of our priorities”, Sánchez underlined after announcing the line of guarantees, which he considers necessary when in Spain young people and families “have difficulty when they go to a bank to have the deposit and to be able to get a mortgage and buy their home”.

Sánchez has also specified that 300 of the 20,000 subsidized homes that the Executive will build on land owned by the Ministry of Defense, by an agreement that will be signed next Tuesday, will be located in Santa Cruz de Tenerife.

In this context, the head of the Executive has defended that the key to the housing problem is increase the offer with “subsidized housing” and “rehabilitate existing housing” and not “speculate and turn housing into a luxury good”.

“We want to turn housing into a constitutional right and a basic necessity,” he added in this regard, facing a right that, in his opinion, “speaks of ground for speculation.”

HE WANTS 20% OF PROTECTED HOUSING

For Sánchez, these measures are necessary for Spain, with 3%, to reach Europe, where the average for subsidized housing is 9%, although he has opted to be at the level of the Nordic economies such as Denmark or Sweden: “I I want Spain to become that, in a country that has 20% subsidized housing”.

This will be the “great national cause” for which Sánchez will summon “all Spaniards for the next decade”, as he has claimed. “We are going to put all the springs, resources and instruments at the service of that cause of decent and affordable housing”, he has sentenced.

Sánchez has made this announcement after reporting in recent days that he will promote a 50% discount on the European interrail and will launch a “Spanish interrail” with discounts on transport, both measures aimed at young people. He also recalled that the Council of Ministers will approve this Tuesday 560 million euros to reinforce public education.

In this sense, the President of the Government has made ugly that on the right “they are a little upset” by his announcements, before which he has stressed that these are produced because the Executive “proposes social advances.”

“I announce measures because this is a government that does, not undoes,” he defended, to assert that this is the “big difference” compared to when the PP governed by carrying out Councils of Ministers “which were social cuts.”

AFFEA THE INSULTS OF THE RIGHT

In this sense, he regretted that “you have to be very patient with the right when it is in opposition” because it focuses on “insults and disqualifications”, some “expletives” that Sánchez is sure will “continue to rise”.

Faced with this, he has asked the socialists to manage. “The insults, all of them, all of them, for them. We to the management, to solve the problems of the people and to make a positive campaign, which is what the citizens deserve and demand of their political leaders”.

According to Sánchez, the right is “angry” because the PSOE manages “the economy, job creation and social policies much better”, with which, he has said, it is “overthrowing one by one the old paradigms of neoliberalism, such as the pieces of a domino”.

On the other hand, recalling that the international emergency due to Covid-19 has ended, the President of the Government has defended the European bloc that served to centralize the purchase of vaccines, while adding that thanks to Europe, these funds that are allowing the country to move forward.

“Europe must be protected, must be defended”, he stressed, to attack the anti-Europeans who “want to weaken that common home that is the European Union”. In this context, she has also reiterated her support for science, healthcare and the feminist agenda.