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Added on the 23/10/2022 17:09:16 - Copyright : Euronews EN
More and more Belgians, Britons and Germans are emigrating to warm countries to escape huge utility costs. Thousands of people have settled in Spain, but there are also many who work remotely and move only during the winter, attracted by the climate and the quality of life.
The biggest cement plant in Spain could stop its activity due to the dramatic increase in electricity prices.
Spain's government is to cut taxes on electricity, and claw back billions of euros in what the Prime Minister has described as 'excess profits' to tackle soaring energy prices. The cost to Spanish consumers has risen by 35 percent in the past year, as wholesale price rises have been passed on to households. Also today, we look at the state of European economies ahead of the State of the European Union address by Commission President Ursula von der Leyen.
Soaring energy prices have hit French bakers hard and on Monday they marched across Paris to demand more assistance from the government.
The European Commission has designed a cap on gas prices with very stringent conditions and safeguards attached.
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