Ferrovial touched on the volume of revenue overseas and «financial strength and stability» from the Netherlands to justify his going to the country in a very clear message to the government which has appointed and criticized entrepreneurs as the watchword of this legislature. While Sánchez and his entourage accuse the company of fleeing for tax reasons and seek mechanisms to stop its exit, other companies may follow the same path.

The company has revenue of 7,551 million in 2022 of which more than 80% comes from overseas and 86% of its assets are in Dutch subsidiaries. The transfer does not imply that the Spanish subsidiary stop paying taxes in our country Well Holland is not a tax haven, because it tries to sell off the Executive sector, and the company itself calculates its tax advantages they will not be significant.

Apart from the real reasons, the climate was not very favorable for Spanish businessmen. Since Podemos’ arrival in the coalition government, insults and accusations against the main job creators in our country have been institutionalized, and taxes – or taxes, because they are arbitrary – on banks and power companies mark new impositions on other sectors.

The CEOE has been demanding greater regulatory stability and predictability for some time, but the Government, far from listening to employers’ warnings, has hardened its tone with employers and threatened to investigate Garamendi after the controversy over the publication of his salary. Ferrovial’s decision stings mainly because it was unexpected and because it could have been contagion effect on other companies.

Companies like Santander, ACS or Iberdrola have most of their business overseas and their internalization is increasing. in bulk Ferrovial staff It is split between Poland (25%), Spain (22%), Chile (20%) and the United States (17%), but sales and valuation are concentrated in the United States and Canada, primarily.

Banco Santander, with more than 200,000 employees, concentrates most of its assets in Brazil (27%), Spain (13%), and Mexico (13%), and accumulates most of its assets in the United States, Spain, and Germany. However, out of the more than 5,500 million he paid in taxes last year, one third is in our country.

BBVA It has grown exponentially in Mexico, where 36% of its workforce is located and where it recorded a yield of 2.568 million in 2021 compared to the 1.581 million earned in our country.

CaixaBankUnlike BBVA and Santander, it has not driven as much internalization and almost all of its business is concentrated in Spain.

The bulk of ACS’ sales (53.3%) come from businesses in the United States, a country where ACS accumulates 44.7% of its portfolio, and from Australia, but in Spain where most of its workforce is retained (62%).

Inditexone of the companies most criticized by Podemos, has been an example of internationalization and garners the bulk of its sales in Europe (14,051 million, excluding Spain), where 50% of your employees arefollowed by America (4,877 million) and Asia and the rest of the world (4,521), although it still has a significant presence in our country (4,267 million and 28% of its workforce).

Mercadona It’s been, in recent weeks, Podemos’ main focus of attention because of food prices. Such is the attack on Juan Roigwhich the PSOE itself has to demand «size». Supermarkets have concentrated their internationalization in Portugal after the Italian fiasco and most of their business is still in Spain.

Finally there is a case iberdrola. Leading company Ignacio Sanchez Galan It has increased its presence in other countries but it is still Spain where it recorded the highest revenue (22,980.2 million euros in 2022), still far behind the UK (9,812.9 million), Brazil (8,613.4 million) and the United States (7,906 . 5 million).