The president of the Andalucian government, Juanma Moreno, announced that from this week there will no longer be a wealth tax applied for holders of assets more than 700.000 euros, as has been the case so far. It was estimated that the new move will attract 7000 new high-income residents. In addition, the personal income tax will also be reduced by 4.3% above the inflation rate. He stated that “this will help us develop economic activity and employment”.