Brazil’s Levy Says CPMF Tax Will Protect Worker Benefits

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Finance minister in Brazil, Joaquim Levy, told congressional representatives on Wednesday that if congress does not approve an executive order creating the CPMF (tax over financial transactions), programs which protect workers, such as unemployment benefits, will be at risk.

Levy spoke to congressional representatives at a public hearing at the Chamber of Deputies in hopes that they would approve the economic measures presented to them by the executive branch in August.

“If the CPMF is not approved there is a certain risk that important programs such as unemployment benefits and . . .

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