The Minister of Finance and Public Administration, Miguel Corgos, presented the Budget Law project for 2027 to the Parliament of Galicia, amounting to 15.158 million euros. These funds will be used to alleviate the tax burden, strengthen public services, expand the supply of affordable housing, boost competitiveness, and leverage the momentum of the Xacobeo 2027.
The Xunta's tax benefits for 2027 reach 814 million euros, of which nearly 90% are of a social nature, aiming to mitigate the effects of rising prices. Four new tax reductions are included, providing a global saving of 63 million euros, in addition to consolidating previous measures. A notable point is the 0.25 percentage point reduction in the first four income tax brackets, which will allow an average saving of 565 euros per taxpayer compared to 2009.
In housing matters, the project includes two new measures: a 0.3 percentage point reduction in the Stamp Duty on Legal Acts for first-time homebuyers and a 100% deduction for protected housing. It also facilitates generational business succession for family businesses with an expanded reduction in inheritance tax.
Social spending is a priority, with an allocation of €11.343M. Nearly 84% of the increase in departmental budgets goes to Health, Education, and Social Policy. Funds for housing construction nearly double their budget, reaching €326M.
The budgets aim for a cohesive Galicia, allocating €5.885M to A Coruña and €4.359M to Pontevedra. The provinces with the highest per capita spending will be Ourense (€6.040) and Lugo (€6.025). The Local Cooperation Fund will exceed 200 million euros.
The financing of Galician public universities is guaranteed with €3.124M for the 2022-2026 plan extended to 2027, nearly 1.6 million euros per day. The productive sector will receive €360M, an increase of 7.2%.
