the specter of the return of austerity hangs over the legislative elections

The latest polls show the Democratic Alliance, a center-right alliance, leading voting intentions on Sunday. A possible return to power for a party which has not governed since 2015 and a mandate marked by severe austerity.

Will Portugal swing to the right on Sunday March 10 during the legislative elections? An early vote is organized after the resignation of socialist Prime Minister Antonio Costa, in power for eight years. At the top of the polls: the Democratic Alliance (AD), a center-right alliance which has not governed since 2015. A final four-year term, associated in people’s minds with a severe period of austerity.

On the verge of bankruptcy, the country had requested 78 billion euros in aid from the International Monetary Fund (IMF), in return for drastic budgetary restrictions. The memory is still vivid for many retirees. “They cut pensions, eliminating our 13th month for the poor, for workers, for retirees. What they did really hurts,” testifies a couple met during a Socialist Party action in Porto.

“There is a generation that has never forgotten”

If it was indeed the Democratic Alliance which piloted the austerity policy, it was the Socialist Party which, in 2011, signed the agreement with the IMF. “Public finances were dry, analyzes Hugo Vilares, economist at the University of Porto. There were cuts even for very low pensions, from 650 euros per month, with at the same time tax increases which also affected retirees. It was a very big shock at the time. There is a generation that has never forgotten.”

Eight years later, a major debate still exists to establish political responsibility for these budgetary restrictions. “For example, the leader of the ruling party at the time admits today that he still has to reconcile with the retirees,” explains Hugo Vilares.

Center-right alliance promises not to cut pensions

The current leader of the Democratic Alliance, Luis Montenegro, tries to reassure by promising that he will not cut retirement pensions. To further convince that times have changed, he proposes a minimum wage of 1,000 euros – compared to 820 euros today – or even a salary catch-up for teachers, very affected by the austerity cure at the time.

Another issue in this election in Portugal: the score of the far-right Chega party, riding on an anti-corruption and anti-immigration discourse. The party could win many seats in Parliament according to the latest polls.