Business · Economy · 6 hrs ago
Brazilian business sectors urge action on credit, taxes and productivity
Brazil’s five largest economic sectors are pressing the next president to act on business concerns, with demands being sent to presidential candidates.
They want lower borrowing costs, help with work-schedule changes and higher productivity.
A survey by the National Confederation of Industry found that 29% of industrial business owners prioritized lower taxes and completing tax reform, while 22% cited fiscal balance and better public management.
For employment, about 71% called for lower payroll taxes, a proposal raised by both Lula’s and Flávio Bolsonaro’s campaigns.
The survey also found that 72% want public spending cuts to help bring down interest rates sustainably, alongside greater bank competition and the Central Bank’s autonomy.
Businesses also cite skilled-worker shortages and organized crime as concerns, while the commerce and services sector wants changes to business law and less tax litigation; the demands are being compiled in letters to candidates.
Brazil’s five largest economic sectors are urging the next government to reduce credit costs and support productivity.
Their demands also include addressing possible effects of changes to working hours and tackling criminal groups that distort competition.
The requests are being compiled in letters to presidential candidates.
A survey by the National Confederation of Industry found that tax cuts and consolidating tax reform were the top priority for 29% of industrial business owners.
The survey also found that 72% viewed public spending cuts to reduce government debt as necessary for a sustainable fall in interest rates.
- Who
- Brazil’s five largest economic sectors, including industry, commerce and services.
- What
- They are urging the next government to address credit costs, taxes, productivity and other business concerns.
- When
- The demands are for the next presidential term, beginning in 2027.
- Where
- Brazil.
- Why
- Businesses say high credit costs, taxes, skills shortages and other pressures affect their operations and productivity.
This story does not have two clearly opposing sides.
Former Finance Minister Fernando Haddad said payroll charges should be part of the next economic reform agenda, regardless of which government is elected.
The National Confederation of Industry released a survey of industrial business owners’ priorities.
Estadão published the report on economic sectors’ demands for the next government.
- Top industrial priority
- 29% cited reducing taxes and consolidating tax reform
- Public spending
- 22% cited fiscal balance and better public management as priorities
- Payroll taxes
- About 71% of business owners cited reducing payroll taxes as a way to support employment
- Interest rates
- 72% said spending cuts to reduce public debt were needed for a sustainable reduction in interest rates
- Presidential term
- The demands concern the term beginning in 2027
What people are saying
Brazilian society expects answers so we can have a fairer country, with more opportunities and less inequality, but at the same time it cannot live with the risk of persistently stratospheric interest rates and excessive public spending. If there is no course correction, the country will fall further behind in sustainable development.