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Rubalcaba to propose more taxes for banks

Former Socialist leader González comes to aid of candidate with call for wealthy to pay dues

Socialist candidate Alfredo Pérez Rubalcaba is expected to announce on Monday his proposals for a new bank tax structure to foment jobs and to resurrect the wealth tax on the country's biggest fortunes.

The prime-ministerial candidate will present his plans during the weekly meeting on Tuesday of the Socialist Party executive committee, which is preparing for a broad policy conference later this month when members will begin drafting Rubalcaba's platform for the November 20 general elections. With these two proposals, Rubalcaba has given a clear nod to the left and some elements of the M-15 movement.

For his part, former Prime Minister Felipe González said on Sunday that "it was reasonable" that the country's wealthiest individuals should pay higher taxes, as long as the formula introduced doesn't affect the middle class.