The new remunerations, amounting to 612.85 euros per meeting for the boards of directors of five municipal companies and 525 euros for four other autonomous bodies, were justified by Almeida as a measure of "good corporate governance." This statement was made at the press conference following the Governing Board, on the same day that the Municipal Housing and Land Company (EMVS) voted on the proposal for its approval.
“"A matter of good corporate governance that I understand Más Madrid does not like."
The Madrid mayor emphasized that the goal is to "attract independent profiles" and ensure that "boards of directors are not placement sites." However, this justification has generated controversy, especially since his former chief of staff, Ana de Miguel, holds the position of CEO at EMVS.
Almeida also lashed out at Más Madrid, the main opposition party, accusing them of having a double standard. "Más Madrid says one thing in public and another in private. In some companies, they have voted in favor," he stated, in response to criticism from councilwoman Lucía Lois, the party's representative on the EMVS board.
The mayor mentioned that Sumar abstained in a similar vote for Casa 47, the new public housing company. He urged Lois to "give her opinion on the legitimacy" of that case, after the councilwoman expressed her rejection of the EMVS allowances, citing the "housing emergency in Madrid, where thousands of families cannot access decent housing and rental prices continue to skyrocket."
The Madrid City Council has compared these remunerations with those of state bodies, noting that municipal allowances are 50% lower. The Treasury Department of the Consistory has indicated that this measure "has replicated state legislation, where it has already been done, ranging in this case between 1,189 and 623 euros, depending on the category of the board."
The nine entities that will incorporate these allowances, applicable even for remote participation in meetings, are EMT, EMVS, Madrid Calle 30, and EMSFCM, as well as the autonomous bodies IAM, Madrid Salud, ATM, AE, and Agencia de Actividades. These allowances will apply to all members of the board of directors, including government and opposition councilors, management positions, unions, and civil servants, unless expressly rejected.
In the case of EMVS, the proposition submitted for a vote on Thursday in 2026 foresees an indemnification cost of up to 107,861.60 euros for that year. Furthermore, it is proposed to increase the maximum number of board members from nine to fifteen, which would imply a higher expenditure.
