Argentine government to apply a labor and tax reform
Argentine Economy Minister Luis Caputo declared during the Idea Colloquium that a labor and tax reform is being prepared to benefit workers
The government of Javier Milei in Argentina will promote tax and labor reform, according to Economy Minister Luis Caputo during his participation in the Idea Colloquium.
Regarding labor reform, the official indicated that the changes are fundamental to ridding the country of an archaic, rigid system where the working class is the most affected and where employment does not grow. Consequently, a labor system is needed that is “more agile, more dynamic, and that puts an end to the lawsuit industry, which favors a small handful against all Argentines.”
Regarding tax reform, Caputo emphasized that it will focus on “eliminating many taxes, lowering others, and simplifying the tax regime.” He also mentioned that “there will be significant incentives to develop domestic savings.”
The minister addressed key issues such as the capital market, long-term domestic savings, the fiscal deficit, and private sector investment, all while considering a new development model.
Caputo urged business leaders and executives to embrace the change: “At this point, I find it almost archaic for people to believe that the only way Argentina can be competitive is by having a weak currency. A weak currency is nothing more than a reflection of a weak economy. It also seems to me that it’s an understatement to you, to the business community, to tell you that the only way you can be competitive is by having a depreciated currency.”
M.Pino
Source: lacapital
(Reference image source: Ivan Henao on Unsplash)
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