Chile’s President Sebastian Pinera has announced new measures aimed at resolving one of the country’s worst political crises in years following weeks of protests.

In a televised speech on Tuesday, Pinera promised an immediate 20 percent increase in government-subsidised pensions, a guaranteed monthly wage of $480, cheaper medicines for the poor and stabilised electricity costs.

He also announced a new tax bracket of 40 percent for those earning more than $11,000 a month, as well as potential wage cuts for politicians and public officials. Pinera also asked for forgiveness for past and current governments over their failure to address deep inequalities afflicting Latin America’s fifth-largest economy.

“The people have delivered a clear message,” Pinera said. “It’s true that these problems didn’t appear in the last couple of days. They have been accumulating for decades, but it’s also true that the governments were not able to acknowledge the situation in its complete magnitude. “I recognise this lack of vision and I apologise to my countrymen,” he added.

Pinera said he hoped to turn recent violent protests into an “opportunity” for Chile “to make up for lost time”. Claudia Mix, a congresswoman, dismissed Pinera comments on Twitter, saying that “Chile needed a new social pact with greater political and social democracy”.

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