MNI BRIEF: Japan's July Real Wages Post 2nd Straight Rise

TRUDEAU SAYS CANADA HAS GOT INFLATION UNDER CONTROL

MNI: PHILLY FED LAUNCHES SEARCH FOR NEXT PRESIDENT, CEO

MNI China Daily Summary: Wednesday, September 4

MNI: PBOC Sets Yuan Parity Higher At 7.1148 Weds; +2.17% Y/Y

MNI: PBOC Net Drains CNY276.6 Bln via OMO Wednesday

EZ/UK Bond Supply Calendar: Spain, France, UK Due Thursday

MNI: US BLS: JOLTS QUITS RATE 2.1% IN JUL

MNI: US BLS: JOLTS OPENINGS RATE 7.673M IN JUL

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Lower House Backs Wealth Tax To Fund Guaranteed Universal Pension (PGU)

CHILE
  • Chile’s lower house of congress approved a bill that funds a government-backed plan for higher pensions after including a wealth tax the administration rejects.
  • Deputies unanimously passed the bill to finance President Pinera’s universal pension proposal on Monday. While the government’s original plan eliminated or reduced tax exemptions, opposition lawmakers added a wealth tax of 1.5% for people with capital between $5 and $22 million, and of 2.5% for those above that range. The Senate must now vote on bill.
  • The bill has potential to spark another rift between congress and Pinera as he rushes to advance the legislation before his term ends.
  • Both lawmakers and economists have said the administration’s plan to cover the pension costs will fall short. Still, the government has said it will challenge the bill before the Constitutional Court, arguing tax matters are prerogative of the head of state. (BBG)
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.