Montenegro wants to cut IRS revenue by $1.2 billion

SDP President Luis Montenegro guaranteed on Monday that he would present the government with a “global tax reform program” that includes a cut of €1.2 billion in tax revenue this year from the Work Income Tax (IRS).

At the traditional Festa do Pontal in Carteira, Luis Montenegro focused almost all of his speech on criticism of the last eight years of socialist rule, in particular with regard to the tax burden.

“With so many taxes, with inflation, even with PRR money [Plano de Recuperação e Resiliência]Dr. Antonio Costa had euromillions, but he left the Portuguese only a penny,” said the leader of the Social Democrats, accusing the prime minister of having “nothing to offer the future of Portugal.”

In addition to reducing the tax burden, Montenegro has pushed for “a maximum of 15% IRS for young people under the age of 30”, which, according to the president of the SDP, would result in them paying “one-third” less taxes than they are paying at the moment.

Another Social Democrat tax cut proposal includes “mandatory inflation-adjusted IRS levels” to keep price increases from consuming revenue, he explained.

Montenegro’s announced tax reform also includes a proposal to introduce a mechanism in law to allow parliament to decide “what to do with excess tax revenue.”

Finally, he said he wants to compensate employers, whether in the public or private sector, with a 6 percent cut in the unified social tax if they pay performance bonuses to workers.

Torres predicts a “tumble”
PS Deputy General Secretary Joao Torres said on Monday ahead of Montenegro’s speech that if he proposed to cut the IRS during the Festa do Pontal, it would be a “monumental somersault” and “an exercise in acrobatics.” . PS will celebrate the lease from 6 to 10 September with the Socialist Academy in Évora.

PSD sees “complete bewilderment”
SDP general secretary Hugo Soares said on Monday that the PS was showing “complete bewilderment” for reacting to the Orange leader’s speech before he spoke.

Algarve and Avante
Festa do Avante, held the first weekend of September, is the start of the communist political year, but PKP General Secretary Paulo Raimundo dine at Odiaxerre on Tuesday before heading to Silves and ending the day in Faro.

Phrases:

“Antonio Coste has nothing more to offer the future of Portugal”;

“This prime minister is a tax champion”

“Even with inflation, he pocketed more resources from society and companies”;

“We have a situation with maximum taxes and minimum services”;

“Never has the healthcare business flourished like it did with PS”;

“With António Costa and his ‘dolphins’, the country is in one of the most problematic areas of impoverishment”;

“The SDP is neither populist nor demagogic. We are not a fruitless opposition. We are a responsible opposition.”