A diverse group of lawmakers has introduced a bill in the Senate aimed at establishing a special legal regime for critical minerals in Chile, including rare earth elements, to address regulatory gaps and the growing significance of these resources in the global economy.

The International Monetary Fund has grounded the government's economic narrative, projecting lower growth for Chile and warning that the gains from the mega-reform may be "somewhat optimistic." In simple terms: if the financial figures do not add up, the cost will not be borne by Kast or big business, but by the citizens.

The bill submitted by the government proposes a two-stage minimum wage increase. The first stage, starting in May 2026, sets a 1.4% increase ($7,546) based on the accumulated variation of the Consumer Price Index (CPI) from January to March. The second stage is set for January 2027, adjusted according to the accumulated inflation from April 1 to December 31, 2026, which, based on the Central Bank's projections, would reach 2.6%.

Senator Paulina Vodanovic has criticized President José Kast's economic tax reform, stating it lacks solid financial foundations and will not significantly increase state revenues in the near future.

May 1st arrives with tightened budgets and looming fiscal cuts: the CUT has rejected the government's minimum wage offer, while the Finance Ministry plans adjustments to employment, welfare, training, and union programs.

In the context of the academic year opening at the University of Talca, former Finance Minister addressed the effects of recent economic crises, defended the importance of institutional stability, and questioned policies solely based on spending cuts. He warned about the risks of starting anew with each change in administration: "We cannot reinvent the wheel every four years," stressing the need to maintain ongoing initiatives.

The government's insistence on the trickle-down hypothesis lacks empirical support: there is no conclusive comparative evidence that this approach improves the living conditions of working families. In Chile, this formula has resulted in a highly unequal society, where the richest 1% holds over 50% of the wealth and the richest 10% controls more than 80%, according to data from the Internal Revenue Service's Office of High Wealth.

In the first quarter of 2026, Chile's labor market faced a challenging situation marked by increased unemployment and informality, with women being the most impacted.

Hacienda's cuts do not target excess, but rather the minimum floor that makes studying possible: school meals, support for public education, reintegration, and access to university are all under scrutiny.

Former presidential candidate Jeannette Jara and ex-Minister Álvaro Elizalde have condemned José Antonio Kast's administration, accusing him of "governing for the rich" and promoting a disguised mega tax reform.