Spain’s Sanchez calls snap election for November 29

Spanish Prime Minister Pedro Sanchez called an early election for November 29 on Monday, seeking to strengthen his mandate after a fragmented parliament rejected the government’s key housing decrees last week amid widespread protests.

The snap election is a high-stakes gamble for Sanchez, whose Socialist Party trails in nearly every opinion poll. An electoral defeat would end one of Europe’s few remaining left-leaning governments at a time when far-right parties are making gains across the region.

However, Sanchez has repeatedly defied predictions that his political career was nearing its end.

“We need to renew people’s support,” Sanchez said in a televised address. “We need to mobilise and win a much larger progressive majority in parliament, one that will allow us to overcome vested interests, deliver new social advances and continue transforming Spain.”

Sanchez acknowledged that his government had made mistakes and fallen short of some campaign promises.

“I also know that part of that social majority is dissatisfied today,” he said, while vowing to fight for Spain to remain “a bastion of openness, social justice and environmental responsibility”.

Spain’s benchmark IBEX index was broadly flat after the announcement, while Spanish government bonds were also largely steady.

The main opposition People’s Party (PP) welcomed the announcement, posting “AT LAST” on X. Its leader, Alberto Nunez Feijoo, was due to hold a news conference later on Monday. The conservatives have repeatedly called on Sanchez to dissolve parliament and hold an early election.

Sanchez faces tough election battle

Sanchez has taken prominent positions on progressive issues, including Palestinian statehood, the defence of multilateral institutions and efforts to rein in what he calls “tech oligarchs”, even as a series of political setbacks and scandals have weakened his position at home.

His position was recently boosted by proposals to address Spain’s mounting housing crisis. The measures received a positive public response but were rejected by right-wing lawmakers on Friday, triggering large protests by housing activists across the country.

Opinion polls suggest a coalition led by the PP with support from the far-right Vox could emerge as the most likely outcome, potentially bringing the far right into central government for the first time since the restoration of democracy following the death of dictator Francisco Franco.

Sanchez, however, has repeatedly managed to remain in power despite never securing enough votes to form a majority government. He has built a series of fragile coalitions ranging from the far left to separatist parties on the right, allowing him to remain prime minister for three successive terms over eight years.

But growing divisions among his coalition partners have limited the government's legislative output during his third term. Parliament has also failed to pass a national budget since 2023, despite Spain’s economy continuing to outperform many other developed economies.

Vox leader Santiago Abascal warned that the election result remained unpredictable despite favourable polling for right-wing parties.

“Surveys said the same thing in 2023 and Sanchez managed to form a majority with all his accomplices,” he told television channel Antena 3.