Minister defends tax reform and new tax rule to enable R$ 100 billion of investment

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Value, if achieved, will be five times greater than that invested during the Bolsonaro government, which prioritized private investments in highways, railways, ports and airports. Minister of Transport, Renan Filho. TV Globo/Reproduction The Minister of Transport, Renan Filho, said this Wednesday (1st) that the objective is for the government to invest BRL 100 billion in infrastructure between this year and 2026. For that to be possible, he said, it will be necessary to that Congress approve a tax reform and also a new tax rule to replace the spending cap. “This year, we will not have another Transition PEC, we will have to approve a new fiscal framework and tax reform so that the country can grow again and we have more resources to invest again and strengthen competitiveness”, he said. “These two challenges are the challenges of politics and the government this year. And, with that, we will guarantee investment capacity in 2024, 2025 and 2026 equal to 2023, which, if it occurs, we will invest R$ 100 billion in four years “, he completed. He recalled that the Bolsonaro government invested around BRL 20 billion in infrastructure over four years and attributed the low amount to the spending ceiling, a fiscal rule that limits the growth of government expenses. “When we took office, this ministry was coming from the shortest investment cycle, imposed by the spending ceiling. In 4 years, the Ministry of Infrastructure invested R$ 20 billion reais. This year alone, we are going to invest [o Ministério dos Transportes] BRL 22 billion, plus BRL 5 billion [do ministério de] Ports and Airports”, he explained. The former Ministry of Infrastructure was split into two in the Lula government: Transport and Ports and Airports. The high volume of investment in infrastructure this year was guaranteed because of the Transition PEC, approved at the end of last year This PEC allowed part of public investments to be made outside the spending ceiling, in addition to expanding the ceiling itself to accommodate Lula’s campaign promises Estatal Infra SA Renan Filho’s statements were given during the inauguration ceremony of the new- CEO of Infra SA, Jorge Bastos. Infra SA is the state-owned company resulting from the merger of Valec with EPL. As a result, the new public company was responsible for railway works and for the planning and structuring of transport infrastructure projects. Jorge Bastos he was CEO of EPL between 2018 and 2019, as well as general manager and director of ANTT. He holds a postgraduate degree in project management from Ibmec and in business management from Fundação Getulio Vargas (FGV). He also studied planning, management and control of land transport at the Interdisciplinary Center for Transport Studies at the University of Brasília (UnB). In his inauguration speech, Bastos said that Infra SA’s mission will be to anticipate needs, plan and make investments viable. “Government and the private sector can be partners in this endeavor so that the country can have infrastructure consistent with its size”, he defended. VIDEOS: economic news

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