Spain’s opposition leader shrugs off claims he will privatise pensions
Spain’s conservative opposition leader has vowed to raise pensions in line with inflation every year if the PP wins the election next month, contradicting voices within his party that say the public pension system risks “collapse” if not overhauled.
Alberto Núñez Feijóo’s announcement comes amid a political row over the sustainability of Spain’s pension system and the cost of living, with Socialist Prime Minister Pedro Sánchez accusing the right of planning to weaken the current inflation-linked increases.
“Pensions will rise every year in line with inflation,” Feijóo said when he presented his “Contract with Spain”, a set of commitments he would pursue if he became prime minister.
“Young people will inherit a system that guarantees they too will receive their pensions,” he added.
Sánchez has accused Feijóo’s right-wing Popular Party (PP) of questioning the mechanism linking pension increases to inflation, which has been in force since 2022.
The PP voted against the legislation introducing the measure in late 2021.
Last week, senior PP lawmaker Ester Muñoz predicted the current pension system would “collapse” and called for it to be changed, prompting criticism from the government.
Spain’s hard-right Vox has also outlined plans to privatise the public pension system, arguing that it’s unsustainable ahead of a generation of workers set to retire in the near-future.
READ MORE: Spain’s far-right Vox unveils plans to privatise public pension system
The dispute comes as inflation accelerated to 4.9 percent in September, its highest level since February 2023, adding to concerns over the cost of living.
Spain is due to hold a snap parliamentary election on November 29th, following eight years of Socialist-led government under Sánchez.
Opinion polls currently put the PP ahead of the Socialists but short of an outright majority, potentially leaving the far-right Vox party in a position to determine the balance of power in parliament.
Feijóo also pledged to build at least one million homes. Housing affordability remains one of the main concern for Spaniards.
READ ALSO: How the PP and Vox say they’ll fix Spain’s housing crisis
