The Government won the backing of unions to reform the public pension system. The leaders of Spain’s two main unions, UGT and CCOO., appeared alongside the Minister of Social Security in Madrid to christen the plan the union heads both deemed “historic.” The CCOO secretary general said that the reform would be key to ensuring pensions for the retired population which he said is expected to increase from 10 to 15 million people by 2048. The new deal signed off by the unions will aim to handle a looming boom in the number of retired workers by increasing the social security costs on businesses for higher-wage earners.
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