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Chile’s Marcel Sees Tax Plan Submitted to Congress by End-June

LATIN AMERICA
  • Chile’s Marcel spoke late yesterday, stating that Boric’s government will submit their tax proposals to Congress by the end of June, which will detail changes to income taxes and other tax reform, which will fund “more or less” half of the funds needed to finance government spending in the coming 4 year period.
  • Marcel added that the government’s objective is to increase productivity growth across Chile, targeting 1.5% growth per year – this will, in turn, counter the economic impact of a separate bill to cut weekly workhours to 40 – although that will remain a gradual transition.
  • Elsewhere in Colombia, the outgoing President Duque predicts that Colombia will reject the “Venezuelan model” at the upcoming election, in thinly veiled comments attacking the agenda of leftist candidate Petro. While the outgoing President didn’t name a specific candidate in the address, his comments on policy implementation (“what we have been able to implement in Colombia in major policies -- cannot be derailed easily”) was a clear endorsement of the current favourite Rodolfo Hernandez.
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