The package of eight measures, called “Families First”has been estimated at 2,400 million euros, in addition to the 1,600 million euros of aid already disbursed up to September.
“We haven’t faced such a sharp and sudden increase in the cost of living in thirty years“said Costa. It is necessary “great prudence not to feed a inflationary spiral“, he added.
The measures announced in Portugal include a check of 125 euros per person, plus 50 euros for each child, to the Portuguese who earn up to 2,700 euros gross per month. Pensioners will receive a supplement equivalent to half of their monthly pension.
In addition, the Costa Executive, which has an absolute majority in the Parliamentwill ask the deputies to vote a reduction of VAT on electricity from 13 to 6% and extend until the end of the year the drop in fuel taxeswhich is already in force.
Costa also announced a 2% cap on the rent hike and the cfreezing of public transport fares for next year.
In Portugal, consumer prices increased by 9% year-on-year in August, according to a provisional estimate from the National Institute of Statistics.
It is not the first European government to launch similar initiatives for the winter. This same week, the Executive of Germany agreed in coalition – the social democratic party German (SPD), the Green and the Free Democratic Party (FDP)- an aid package of more than 65,000 million euros to alleviate the energy crisis.
Source: Ambito
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