Chile’s finance minister Mario Marcel said that his country’s government will send its latest tax reform proposals to the Senate in three weeks and reserves the option of insisting in Congress next March as a backup plan.
“the administration has a stronger strategy this time focuses on areas including spending priorities, promoting growth and creating fiscal efficiencies. The Lower House rejected the government’s initial legislation in March”, Marcel said.
“We have enough input to develop a proposal, we are still on the right track Maybe in two or three weeks we will have a proposal to present to the country and especially to the political actors, and then we will see how we develop from there”, He added.
Earlier this month, Marcel said that the CPC, is ready to talk about tax reform. However, days later, that institution said that it opposed the fee increase.
Marcel said that the government’s strategy “must be attractive to various actors and different political parties. We hope that they will have the ability to realize that with this approach, everyone has something to gain”.
Chile is expected to start easing monetary policy in the near term as public spending remains under control and interest rates remain at their highest level in more than two decades.
Economic activity in the month stopped in April after the previous two readings fell, according to the latest data of the central bank.
