The Spanish Socialist Worker's Party (PSOE) and the left-wing Unidas Podemos party presented their joint governing deal, outlining the policies that they want to implement from their planned coalition government.
The governing plan includes tax rises for higher earners and large firms, an increase in the minimum wage and a partial overturn of regressive aspects of the conservative Popular Party’s labor reforms.
PSOE leader, Petro Sanchez, said: "We present a government program whose root is the idea of progress, that addresses challenges as opportunities to make our country progress, to build a better, fairer and more supportive Spain."
Unidas Podemos leader, Pablo Iglesias said: "We present a government program to defend and expand social rights and public services, make feminist policies and preserve the environment."
According to the deal, income tax for those earning more than US$145,000 a year will rise by two percentage points, and by four points for those who earn more than US$336,000.
All the reforms and plans rely on Sanchez obtaining the support of other parties in order to get back into power, as the PSOE has won 120 seats and Unidas Podemos 35: together they are 21-seats short of a majority in the 350-seat parliament.
However, obtaining seats from secessionists movements in Catalonia and the Basque country looks increasingly likely to happen in 2020 as the PSOE and the Catalan Republican Left (ERC) have nearly closed a deal to secure the latter’s abstention at an investiture vote.
