Spain's government passed a decree to force large landlords with more than 10 properties to cut rents for bars and restaurants by up to half until a national state of emergency ends, government spokeswoman Maria Jesus Montero said on Tuesday.
MADRID: Spain’s government passed a decree to force large landlords with more than 10 properties to cut rents for bars and restaurants by up to half until a national state of emergency ends, government spokeswoman Maria Jesus Montero said on Tuesday.
The government will offer incentives for landlords to lower rents, and defer tax payments for businesses in the hospitality sector to help them weather the fallout from the COVID-19 pandemic. The move should have a positive impact of 2.6 billion euros ($3.18 billion), Montero said.
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