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Feijóo will consult with AIReF and the Bank of Spain on his pension reform

Date: February 23, 2024 Time: 22:08:58

The leader of the Popular Party, Alberto Núñez Feijóo, has advanced the first ten measures that his cabinet would have implemented as soon as he arrived in Moncloa. These include the reduction of the Personal Income Tax (IRPF) for medium and low incomes, the recovery of the crime of sedition and the increase in penalties for corruption. However, the reform of the pension system is outside of this decalogue, since according to what the president of the ‘populares’ said this Monday, the proposal will be the result of several consultations with AIReF, the Bank of Spain, those responsible Labor and Social Security and social agents. The main opposition party promises that its proposal will make two objectives compatible: ensuring the purchasing power of pensioners and guaranteeing the sustainability of the public pension system.

The reform that the current executive has carried out in two volumes, the first referring to spending with the support of businessmen (CEOE and Cepyme) and the second, which addressed the income system and only had the signature of the unions, has received criticism from the opposition, while AIReF, the Bank of Spain and institutes such as BBVA and Fedea -the CEOE think tank- have expressed their doubts about the feasibility of the reform in the future. The text promoted by the Minister of Inclusion, Social Security and Migrations, José Luis Escrivá, has raised taxes through the creation of the Intergenerational Equity Mechanism (MEI) -applicable to all incomes- and the increase in the maximum bases of contribution for the highest incomes, to which the new solidarity quota also applies.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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