A universal income of $ 600,000 per month until December is what is proposed by the presidential Ximena Rincón (DC) and Paula Narváez (PS) to go to the aid of the families after the Government’s announcement to appeal to the Constitutional Court for the Third Retirement. This would require the entire annual tax collection, plus 40%.
The presidential candidates propose to make tax adjustments in order to finance the measure. Although according to the Ministry of Finance, 7 million homes and an expense of $ 5,833 million per month should be considered.
The proposal from the opposition seeks to include more than 80% of the families registered in the Social Registry of Households and to achieve this it is necessary to carry out tax changes. The deputy Manuel Monsalve of the Socialist Party gave details of the figures they propose.
“It implies almost doubling the fiscal cost, that is, bringing it to almost US $ 10 billion in three months. Is it possible to finance US $ 10 billion by the Treasury to truly protect Chilean families above the poverty line? We believe that it is possible and this will have to be accompanied by tax modifications to finance it, “he said.
The measure is equivalent to two thirds of the 2021 Budget or seven times the IFE without its minimum requirements. For Sofía Cid, deputy for National Renovation, the proposal is viable if it is specifically studied where the funds can be obtained.
“We have to review the entire social protection system so that it reaches more people and in a better way. Of course, you have to evaluate the cost of being able to arrive with this income of 600 thousand pesos until the end of the year. Today the most important thing, I think, is to be able to reach an agreement and reach out with help to people who have not received anything ”, he declared.
From the side of the numbers, Pablo Barberis, economist, believes that the tax changes mentioned by Monsalve should focus on three rules that for several governments have not wanted to be revised.
“And the sources of financing for that would basically be through fiscal indebtedness. Chile today has a chance to continue borrowing. The second, that we still also have sources of public savings that we would also have to take part of that savings and use them in these sources, and the third, a better redistribution of tax revenues “, he indicated.
However, now that the government announced a third withdrawal of its own, the initiative may not be feasible.
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