The following is a rough translation of the article in El Mundo as requested by Ads:
During the Senate Plenary Session, Minister Blanco answered a query by Jose Manuel Garcia Ballestero who inquired about the road show to sell the stock of housing to foreign investors. Garcia Ballestero indicated that the British Press has described the road show as an insult and, in his opinion, this is giving a bad image to Spain. The PP Senator has also said that there are thousands of British nationals that feel swindled by the Government and by their investments in Spain
Blanco is accusing the PP of having backed for years, when they were in Government, legislation that has produced an excess of holiday homes which are mostly located in regions governed by the PP, such as Valencia and Murcia.
The laws backed by the PP, according to the Minister for Development, has made the holiday home sector to have an excessive bearing on the financial sector and this makes it quite difficult to have funds available for financing new construction in places where there is more demand or for businesses and families, due to the vast amounts tied up in holiday home construction.
“You do not understand the excesses and the property bubble to which you want to return for the benefit of speculators as opposed to entrepreneurs” added Blanco.
Blanco has also pointed out that most of the claims made by British nationals regarding homes in Spain are based on transactions and developments made during the years in which the PP was in Government