The interest rate of the private consignment will be around 2.5% per month, said Finance Minister Fernando Haddad during an interview with ICL Notícias this morning in Sao Paulo. The program that the minister has qualified as “structural” is a government proposal to expand the payroll loans to private workers, such as what already occurs in the public sector and for retirees.
“We may have in the coming days something unpublished in Brazil that is the private payroll. A worker who works in a large company that has an agreement with the bank, he can pay the payroll, ”said the minister.
Currently, Haddad said, an average loan interest rate that is granted to private sector workers is around 5.5% per month. With the private consignment, according to the minister, this rate will be much lower.
“The payroll goes to e-Social. I mean, no matter where the person is employed, you will discount their loan to much lower interest, less than half of what you pay today. When you look at Selic [taxa básica de juros]it is 13.25% per year, so this worker today is paying 5.5% per month, ”explained the minister. “When you make a guarantee that it is the private consignment and gives the celetist worker the same right as a retiree or that a public servant has, this interest rates falls in half,” he added.
90 day
According to Haddad, the private sector worker will have 90 days to exchange 5.5% loan per month to 2.5%. “We will give 90 days to migrate this population, which now has a guarantee not to pay the interest they are paying today,” he said.
“Regardless of Selic, you will be doing something for the good of the Brazilian family. Sometimes the worker doesn’t even know how much is paying interest. He takes a loan he needs, checks if the loan portion fits his pocket and he Don’t do the interest rate he is paying. But we will offer Brazilian workers a new thing that can leverage GDP [Produto Interno Bruto]”, completed ..
Crop plan
In the same interview, Haddad also commented on food inflation. According to him, the first action that the federal government is taking to contain the price of food is the expansion of Crop planwhich supports the agricultural sector and offers credit lines, incentives and agricultural policies to farmers.
“The first action is as follows: Let’s make increasingly robust, larger and better harvests. And the government [do presidente] Lula goes to his third year preparing a third large plan. We hit two records in 2023 and 2024 and we want to do the same in 2025. As soon as the budget is approved, we will launch the crop plan for the next harvest and I want to believe that Brazil has all the conditions to continue to expand the production properly , without deforestation, which fell vertiginously in the country, ”he said.
Tax reform
The Finance Minister also commented that the large mark of this third term of President Luiz Inacio Lula da Silva is the tax reform. “I think the great asset of President Lula’s third term is that he is promoting the largest tax reform in Brazil’s history and seeking tax justice,” he said. “We are doing an absolutely digital and transparent tax reform. Everyone pays, but pays less. That is, you maintain the collection, but distributing the burden to more people so that the privileged today who do not pay taxes will pay for those who pay, who is the worker, pay less, ”he added.
According to Haddad, the biggest difficulty of this government in relation to the income tax exemption proposal for those who earn up to $ 5,000 will be compensation. “The challenge will not be exempt. The challenge will be to make up for those who do not pay. And then you go upstairs. And then we will have to get upstairs and then the artillery comes heavy against the government, ”he predicted.
“Currently, who is paying [o imposto de renda] It is the working population, the celetist, the civil servant as teachers and nurses and who has a discount on Folha. There is no escape, there is no way to evade. Why seek justice has become a sin in the country that is one of the most unfair in the world in terms of income distribution? We want to seek justice with fiscal balance. I am a little puzzled to see that sometimes those who scream the most in Brazil are the one who has the most and who least contributes, ”he concluded.
