Spain's prime minister, Pedro Sánchez, speaking in the Senate

Pedro Sánchez in the Senate on Tuesday. | Efe

Andrew EdePalma31/01/2023 19:05
TW
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In the Senate on Tuesday, Prime Minister Sánchez announced that the minimum wage will increase by eight per cent in 2023 to 1,080 euros gross per month in 14 payments. The announcement was made after agreement was reached between the employment minister, Yolanda Díaz, and the general secretaries of the UGT and CCOO unions, Pepe Álvarez and Unai Sordo.

Sánchez said that the minimum wage has risen by 36% during his time as prime minister, having gone up from 735 euros to 1,000 euros; there is to now be a further increase. Of countries in the OECD, he pointed out, Spain's revaluation has been the second highest and it has been achieved "with the staunch opposition of the neoliberals".

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The prime minister emphasised previous loss of purchasing power that he blamed on a lack of political responsibility and on part of the private sector. "Large companies increase profit, pay millionaire bonuses to executives and wages do not increase a cent. Why do profits go into the hands of a few?"

The latest increase is in effect a compromise. The unions had called for an increase to 1,100 euros, while the CEOE confederation of business organisations had wanted a four per cent rise to 1,040 euros.