Green Light from Ayuso for the First Open Market Law in Spain

The Community of Madrid, chaired by Isabel Diaz Ayuso, gave the green light this Wednesday to the first Open Market Law in Spain, a measure that will allow any businessperson in the country to open their delegation in this region with the same authorization that they already have in their community. The Minister of Finance, Javier Fernández Lasquetty, ventures that this action will report a growth of 1.6 in GDP – around 4,000 million euros – and an upturn of 50,000 new jobs in the medium and long term.

This Wednesday, and after the Governing Council of the Community of Madrid, the Treasury Minister, Javier Fernández Lasquetty, advanced this law that will have to go through the Assembly, and whose main objective is the arrival of more companies in this community and both improve economic activity and generate more employment.

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With this decision, Madrid becomes the first Spanish region to remove barriers to work here, and thus to provide services without the need for additional authorization, which, in Lasquetty’s opinion, will greatly reduce the processing time for companies.

This law, explained the counselor to the media, is nothing more than the adaptation of the Market Law of the President of the Government of Mariano Rajoy, in 2013, a regulation that was overturned by the Constitutional Court when considering that these attributions did not correspond to the State. Finally, in 2017, it dictates in a ruling that the Autonomous Communities are responsible for promoting the free market.

€4 billion
Thus, with these legal wicks and based on the report of a Commercial Technician and State Economist, Marisa Álvarez Suárez, entitled, ‘The economic impact of better regulation. An analysis for Spain’, Lasquetty argues that this legislative change could end up giving Madrid a growth in Gross Domestic Product of 1.6 points, and therefore the creation of 50,000 new jobs in the medium and long term.

Regarding this measure, and facing the criticism that he believes may come from other parties or other administrations, the Minister of Finance and Economy of the Community of Madrid appeals to the spirit of the European Union, which among other reforms asks Spain to legislative development of the unity of the market, adding on the other hand the desire that other Autonomous Communities emulate this action, “because it would be good for Madrid and also for the rest”, he points out.

“It’s about making it easier for companies, that they have higher turnover”

At the time that this law is approved, and an initiative is launched that has been demanded by companies from other Autonomous Communities -according to sources from the Ministry of Finance-, the Ayuso administration would only check the authorization of the companies in their community of origin, so that, once collated with that CCAA, the approval is given.

It is in itself “a reduction in procedures”, and not having to go through “17 regulations”, as is happening right now in Spain, highlights Minister Fernández Lasquetty, and “making it easier for companies to have more billing”, he concludes.

Reviewer overview

Green Light from Ayuso for the First Open Market Law in Spain - /10

Summary

The Community of Madrid, chaired by Isabel Diaz Ayuso, gave the green light this Wednesday to the first Open Market Law in Spain, a measure that will allow any businessperson in the country to open their delegation in this region with the same authorization that they already have in their community.

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