00:00Bueno, muchas gracias, Major.
00:02Queridos amigos,
00:04el año 2026
00:05ha sido un gran año para
00:07Nueva York y España.
00:12Los Knicks ganaron
00:13el campeonato de NBA.
00:21Y España ganaron
00:22la World Cup.
00:24So
00:27perhaps, Major,
00:29there's only one thing left
00:31to prove. Progressive policies
00:33can also win the future.
00:37That is
00:39what brings us
00:41together today, building
00:43an economy for the many.
00:45For too long we
00:47were told that there was only
00:49one way to run an economy.
00:50If you wanted growth,
00:53you had to accept
00:54inequality.
00:55If you wanted businesses to succeed,
00:58workers had to
01:00make sacrifices.
01:01If you wanted investment,
01:04wages had to stay low.
01:06If you wanted to be competitive,
01:08social protection had to be weak.
01:10I have never believed that
01:12and Spain has spent
01:14the last eight years
01:16proving that those statements
01:18are not true.
01:19Proving that another path
01:21is possible.
01:23They told us that it would
01:25make less competitive.
01:27For instance,
01:29I will give you some examples.
01:31The first one is, you know,
01:32what the Major has said
01:35earlier about the minimum wage.
01:37These are the examples.
01:39We have raised the minimum wage
01:41by 66%.
01:43They told us it would destroy jobs.
01:46False.
01:47We now have more people working
01:50than ever before.
01:52Two, we have strengthened workers' rights.
01:55They told us that companies
01:57would stop hiring.
01:59False.
02:01One in every two new jobs in Europe
02:03are created now in Spain.
02:05And three, we have walked the talk
02:08and invested massively
02:09in the green transition.
02:12They told us that it would
02:14make us less competitive.
02:15False.
02:16Today, 60% of our electricity
02:19comes from renewable.
02:21And the clean energy is one
02:22of Spain's greatest competitive
02:25advantages.
02:26So I could go on.
02:30So I could go on with many more
02:33examples again and again.
02:35We heard the same warning.
02:36Don't do it.
02:37It won't work.
02:39And again and again, we proved them wrong.
02:42Really, reality gave us a different answer.
02:46Our policies work.
02:47Yes, they work.
02:48And they deliver for the ordinary people.
02:51And they work because social justice
02:53is not the enemy of economic growth.
02:55It is one of its foundations.
02:59People experience the economy in their daily life,
03:03not in graphs, not in statistics,
03:06but in much simpler questions.
03:10Can I afford a home?
03:12Can I raise my children?
03:14Can I pay my bills?
03:15Can I build a life?
03:17Affordability is not a secondary issue.
03:20It is a central economic question of our time.
03:23And it is particularly tested in times like the ones we live with pandemics,
03:29with geopolitical tensions, with trade wars we don't want.
03:34It is in difficult context when our policies make the real difference.
03:40After the financial crisis, you know that in Europe we responded with austerity.
03:45Public investment fell, unemployment exploited, millions paid for a crisis they had not created.
03:54Under a right-wing government in Spain we suffered also the effects of wrong policies.
04:01Then the pandemic arrived, and this time being in power we choose a different path.
04:06Spain pushed Europe along with other countries towards solidarity,
04:11common investment, and protecting jobs and incomes.
04:15We created a minimum income scheme.
04:18We protected vulnerable families.
04:20We suspended evictions, and we mobilized an unprecedented investment to modernize our economy.
04:27We proved that you can protect people today and prepare your country for tomorrow at the same time.
04:33We followed the same principle when Russia's invasion of Ukraine triggered an energy and an inflation crisis.
04:42We subsidized public transport, we reduced taxes on food and energy, we protected pensions,
04:50and we asked banks and energy companies benefiting from extraordinary profits to contribute more.
04:57Because those who have more must contribute more.
05:01It is simple as that.
05:09And not as a punishment for their success, but because nobody builds success alone.
05:15Behind every successful company and every great fortune, there are workers, infrastructure, schools, hospitals, and institutions.
05:25And today, as conflict in the Middle East once again put pressure on energy prices, trade, and household budgets,
05:33the principle remains the same.
05:36When a crisis hits everyone, the sacrifices should not always fall on the same people.
05:43This approach has not held Spain back.
05:47Quite the opposite.
05:48Spain is one of the fastest growing advanced economies in the world,
05:52and employment is at its lowest level in almost two decades,
05:57and inequality is now at its lowest level since records began in 2008.
06:04And there's another lesson from our experience that I want to underline here in this extraordinary city of immigrants.
06:11Migration has made Spain stronger.
06:22Economically, socially, culturally, migrants work in our companies, contribute to our public finance, sustain our welfare state, and enrich our
06:33communities.
06:35Migration makes us a better country.
06:37No question.
06:38This matters because there are politicians on both sides of the Atlantic trying to convince working people that their problem
06:46is another working person.
06:49Someone born somewhere else.
06:51Someone who earns even less than they do.
06:55It is one of the oldest political tricks in history.
07:00Make people look sideways so they never look up.
07:05And our answer must be different.
07:08Do not divide the many so that the few can remain unchallenged.
07:12Bring people together around what they serve.
07:16A decent wage, an affordable home, good public services, time for their families, security, dignity, the future.
07:26Ultimately, it comes down to one question.
07:30Who writes the rules of our economy?
07:33And that question is not only an economic question.
07:37It is also a technological one.
07:40And one related to power and greed.
07:43Because today wealth and power are concentrated in fewer and fewer hands.
07:48And with them the power to decide what to see, what to read, and what to believe.
07:56I am strongly in favor, of course, of innovation.
07:59Europe and Spain need more innovation, not less.
08:02But we must make sure technology spans opportunity rather than concentrate power.
08:09And certainly we must ensure that technology does not undermine democracy.
08:14It should make it stronger.
08:16Markets are powerful tools.
08:19Technology is a powerful tool.
08:20But neither gets to decide what kind of society we become.
08:25People do.
08:26Citizens do.
08:27Democracy does.
08:29So yes, the Knicks won the NBA.
08:32Spain won the World Cup.
08:33And now we have another championship to play for.
08:37One that brings us together.
08:39One that belongs to all of us.
08:41Spain is proving that another economic model is possible.
08:46And New York is showing that the same ambition can transform our cities.
08:51That is why the powerful fear us.
08:54Because day after day we show that a different path is possible.
08:59And it works.
09:00It delivers to our ordinary people.
09:04Different places.
09:06Different realities.
09:07Different realities.
09:07But the same conviction.
09:09An economy for the many.
09:11A democracy for the many.
09:13And if we are ambitious enough.
09:15Courage enough.
09:16And hopeful enough.
09:17A future won by the many.
09:20And for the many.
09:21And not the few.
09:22Thank you.
09:22Thank you very much.
