August 5, 2021

The extension of the subsidy to unemployed from the 52 years costs almost 400 million this year | Economy

The extension of the subsidy to unemployed from the 52 years costs almost 400 million this year | Economy



The extension of the subsidy for the elderly unemployed, lowering the first age that can be charged to 52 years, will imply an additional cost of about 388 million more this year, according to the economic report of the decree law of social and labor measures referred to the Congress by the Government. In total, that legal text calculates a budgetary impact of 1,611.44 million.

Most of this last amount goes to the subsidy, specifically, 1,263 million. However, most of this money will not be consumed in 2019 but in the following years, according to the calculations of the Ministry of Labor. In principle, the cost of the measure in its first full year of effectiveness would be higher (465 million), but since it has been launched after a few months, the invoice is reduced.

The rest of the money is disbursed in the following years: 605 million in 2020, 203 million for the 2021 and 67 million in 2022. This money would reach a total of 114,000 potential beneficiaries, which would add to the 265,465 that are currently charging .

Although this part of the decree is estimated an impact of almost 1,300 million, we must bear in mind that there is a part that returns to the public coffers, since this money includes the Social Security contributions of these unemployed. And, in addition, the impact is greater because not only the quotas of the new beneficiaries of the subsidy are contemplated but also the increase of the contribution base of those who already receive it up to 125% of the minimum wage.

Along with this measure, the decree approved on March 8 also contemplates other ones that suppose disbursement. The discounts to the conversions of temporary contracts of temporary agrarian workers in undefined (12.78 million) or to the hiring of long-term unemployed (25.6 million). For both measures, in any case, there is already a remaining of 38.5 million in the extended accounts, so that initially it would not be necessary to increase the amount appropriated.

A similar situation occurs in the case of bonuses to prolong the activity of workers with discontinuous fixed contracts in the tourism sector, for which the accounts account for 22 million and their forecast for this bonus last year remained at 15 million.

On the other hand, the reduction in the quotas of rural workers to compensate for the rise of 22% of the minimum wage when the number of days worked is minimal is computed with a cost of 42.21 million euros, which will be reflected in a reduction of income from Social Security contributions.

Finally, the Executive provides for the financing of three other measures through an increase in transfers that the State must face to Social Security and a reordering of budgeted resources in the Ministry of Labor.

This is the case the latter of the endowment of 70 million euros for the state fund for the integration of immigrants. Of the items that are used are 25 million euros provided for in aid for adaptation to the new regime of stowage.

Regarding the increase in transfers, these will have to rise by 182.83 million euros, to be quantified in 157.56 million the improvement of the benefit per child or minor in charge for families that do not exceed certain income and in 25.27 million of euros the improvement of the permanent disability benefit.

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