, the Frente Amplio candidate for the Presidency of the Government, has announced that the party's electoral program for the 29 November general elections will include a new law for the expropriation of housing from private corporate owners.
The proposed legislation targets residential stock held by large entities and will be applied in phases. It begins with owners of over 1,000 homes, moving to those with 700, and finally 50. Families owning their own home or a rental unit are excluded.
Frente Amplio also proposes a wealth tax of 2% on assets over one million euros and 3% over 50 million. Alongside increased taxes on banks and the mandatory assignment of estates, the fiscal reform aims to raise more than 10,000 million euros.