CHILE has passed a Bill to tax the super-rich, whose fortunes have continue to increase while the pay of low and middle-income families has plummeted during the coronavirus pandemic.

The landmark legislation was passed by parliament on Wednesday and the revenue it generates will be used to finance a basic emergency income.

“In our country, 2.3 million middle-class families have become vulnerable, while unemployment increases, income falls and the cost of living increases,” said the Bill’s author, legislator Raul Soto.