1 ) : 1 - 38. https : / / dx. doi. org / 10. 2139 / ssrn. 2654802 and lopez - rodriguez ( 2018 ). pablo hernandez de cos. ( 2023 ). “ 16th cinco dias business innovation awards ceremony, 2023 ”. https : / / www. bde. es / f / webbe / gap / secciones / salaprensa / intervencionespublicas / gobernador / arc / fic / iipp - 2023 - 1204 - hdc - en - tr. pdf the public sector can mitigate this problem through various instruments. noteworthy among these are tax incentives for innovative firms. the most significant tax incentives for innovation in spain currently revolve around corporate income tax deductions. however, although the subsidy implicit in these incentives is, in theory, among the highest in the oecd, they are actually deployed notably less in practice owing to the existence of different administrative requirements and the way in which corporate taxes are calculated. 39 also, the effectiveness of these incentives would be reinforced if concrete measures were deployed to support innovative firms in their early stages. fourth, the tourism sector will also be very affected by climate change and the energy transition. 40 in particular, the transition towards an emissions - free economy will be a challenge for air transport, which accounts for 40 % of the total greenhouse gas emissions generated by tourism. 41 this is a challenge, since the bulk of our international tourism ( around 80 % ) uses air transport. spain is also exposed to physical risks, 42 exacerbated by the significant share of the sun and sand segment, which raises the tourism sector ’ s climate dependency, 43 and by the negative externalities caused by the saturation of certain destinations. 44 these vulnerabilities highlight the need to achieve sustainable growth for tourism, to which end a predictable energy transition framework must be set in place. the nature of these challenges calls for an ambitious and coordinated response on the part of the public and private sectors, focusing on furthering the progress made in recent years in improving the quality of the tourism services on offer45 and on diversifying such services. this would allow a balance to be struck between generating revenue and easing the strain on the environment and the saturation of certain areas. the increase in business, urban and cultural tourism is associated with greater expenditure per tourist, and it is also airef. (

and the parliamentary groups, since any changes must ultimately be approved by this house. however, i do want to mention some changes which we would view very favourably. for example, providing savings banks with the wherewithal to increase their own funds, at least on a comparable footing with banks. this is important because, as i have reiterated today, it is essential to consider all possible private solutions before asking taxpayers to contribute more public funds. evidently we must comply with the requirements of monetary union membership. but in this connection, one desirable institutional change, along the lines of the deposit guarantee funds that have worked so well for us, would be to avoid, as has occurred in the case of ccm, calling a cabinet meeting every time taking control of an institution is called for. these and other changes should also strive to ensure the orderly restructuring of banking institutions and, while maintaining the necessary discretion specific procedures require, comply with all government and parliamentary reporting procedures deemed necessary. thank you very much.