THE Spanish Cabinet has approved a guaranteed minimum income scheme for the most vulnerable families in the country.
Podemos leader Pablo Iglesias, in a news conference earlier today, spoke about the creation of a minimum income worth €462 a month, that will target some 850,000 households or 2.5 million people.
The Government would pay the monthly sum and top up existing revenue for people earning less so that they receive at least the minimum amount every month.
Finance Minister, María Jesús Montero called the guaranteed minimum income scheme ‘a giant step in the fight against inequality in our country.’
The minimum income would also increase based on the number of family members, up to a maximum of €1,015 per month.
This programme will cost the Government approximately €3 billion every year.
Iglesias added: “Today is a historic day for our democracy.
“Today this Government is showing that its political choice is social justice and that it takes the Constitution seriously.”
Proposals for a guaranteed minimum income date back to December 2019 when PSOE and Podemos agreed to create ‘a general mechanism to guarantee earnings for families with no or low income.’
According to El Pais, the plan was moved forward due to the coronavirus crisis, with the Government releasing the first details of the programme in April.
Some of the details may change however when the royal decree is published in the Official State Gazette (BOE).
To be eligible, claimants need to be between the ages of 18 and 65, as above that age pensions pay out at least the minimum amount of €462.
Immigrants are also eligible as long as they have lived in Spain for at least a year.