HomeInsideCoronavirus: Spain's left-wing coalition government approves a minimum income scheme for 2.3 million...

Coronavirus: Spain’s left-wing coalition government approves a minimum income scheme for 2.3 million people

Reader's Pick

Spain‘s left-wing coalition government on Friday said, “The government has approved the creation of a minimum income scheme worth 462 euros ($514) a month for its poorest people.”

Addressing the press conference, Pablo Iglesias, Deputy Prime Minister of Spain, said, “The new scheme aims to reach 850,000 households or some 2.3 million people aged between 23 to 65 with assets of less than 16,614 euros, excluding house and discounted loans.”

Iglesias said, “Under the decree approved, the government would pay a monthly stipend and top-up existing revenue for people earning less so that they get less than the minimum amount every month. This will also include the incentives for finding a formal job.”

“As a result, average spending on fighting poverty in Spain should rise from 0.4 percent of GDP to practically equal to the average of 0.4 percent of the OECD peer country,” Iglesias added.

- Advertisement -

Adding to the development of Social Security Minister, Jose Luis Escriva said, “We will be successful if we can help the identified households to transition to a better place in society.”

“The minimum income would increase with the number of family members to a total of up to 1,015 euros per month, which would cost the government about 3 billion euros a year,” the government said.


Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countri...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacew...

Budget 2023 Should Fouse On Increasing Research Grants to Promote Innovation in Ayurveda: Ameve Sharma of Kapiva

As the Union Finance Minister Nirmala Sitharaman, is all set to present the Ind...

News Briefings: Skillsoft opens in NYSE, Health Startups raises $1 mn, Droom crosses Rs 1000 cr GMV & More

Headlines: Power Gummies raises 1 million dollars from 9Unicorns, Droom crosses...

Budget 2023: “Govt Should Encourage Banks to Increase Funding for NBFCs,” says Parry Singh of Red Fort Capital

As the Union Finance Minister Nirmala Sitharaman, is all set to present the Ind...