Minister of Economy Also Assesses The Approval Of The 15% Dividend Tax Bill As An Intelligence Sign

On Tuesday 7 Economy Minister Paulo Guedes stated that Brazil is prisoner of a zero growth trap criticized the Social Security reform approved two years ago and once again said that the path to development of the country is the private sector.

Brazil grew 0 in the last ten years So its a long story of a model that went wrong and landed until it stopped Brazil is now a prisoner of a zero growth trap said Guedes at an event held by the CNI Confederation National Industry.

This was the Brazil we found and our proposal is to reindustrialize the country We are going to open up the Brazilian economy and transform institutional capital with all these regulatory frameworks he added.

Guedes said that with a reform agenda the government overcame the oppositionists skepticism He then criticized the Social Security reform approved in 2019.

We started the great Social Security reform and we didn’t do it completely We wanted to do more we wanted to put in place a capitalization system with guaranteed savings Brazil would already be holding higher investment rates and future growth They let us do it only halfway he said.

Guedes also argued in defense of the Income Tax under analysis by the Senate The reforms are there Whoever asks for administrative reform whoever asks for the tax reform is there.

Everything is there just approve For our part its there Its not just PEC 110 its the Income Tax as well And for us I think its a sign of intelligence to approve the 15 dividend tax he said.

Because everyone is already saying that when it comes it will be progressive it will be 30 and without lowering the corporate tax What we have done is what the world is doing he added.

The matter however faces resistance at home The rapporteur of the bill that deals with the subject senator Angelo Coronel PSDBA announced last Friday 3 that he will not deliver the opinion on the text that was approved in the Chamber of Deputies and that he must file the proposal.

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