"Actions to halt the loss of purchasing power and the degradation of working and living conditions are urgent," urges the Portuguese general confederation of workers union (CGTP).
The Portuguese general confederation of workers union, CGTP, argued on Monday that measures to halt the loss of purchasing power of workers and families are “urgent”, stressing that large companies and economic groups are registering “gigantic increases” in profits.
“Actions to halt the loss of purchasing power and the degradation of working and living conditions are urgent,” the CGTP said in a statement, demanding measures such as raising wages by €90 for all workers.
At the same time that workers, pensioners and families see their difficulties and loss of purchasing power increase, there are large companies and economic groups registering “gigantic increases in profits” in the first six months of the year, the union stresses.
“In banking, large-scale distribution, electricity, fuel and other forms of energy, in industry and in services, the net profits of large companies far exceeded €2 billion in the first six months of the year,” says the CGTP.
For the union, “the levels of speculation and exploitation that underlie the profits” of the companies “result from the PS government’s political option, with or without impositions from the European Union, and which counts on the active role of the PSD, CDS, IL and Chega parties”.
“The current situation requires immediate measures”, defends the CGTP, also demanding a rise in the national minimum wage to 800 euros “with immediate effect” and an extraordinary increase in pensions to restore purchasing power and social benefits.
The CGTP also wants price caps to be set on essential goods and services, as well as the application of a windfall tax on the “colossal” profits of large companies.