PS Madeira Advocates for VAT Reduction Amidst Rising Living Costs
Madeira GuideCélia Pessegueiro, President of PS Madeira, calls for a reduction in VAT to ease the financial burden on residents as living costs soar.
Célia Pessegueiro, the President of PS Madeira, has renewed her call for the Regional Government to reduce the Value Added Tax (VAT) as a measure to counteract the rising cost of living affecting residents of Madeira. In a statement made on Tuesday, she emphasized that lowering the VAT is crucial to supporting local families and preventing economic hardship.
The appeal comes in the wake of a meeting of the party's Political Commission. During this meeting, Pessegueiro highlighted the urgency of the situation, pointing out that many families are struggling to make ends meet due to escalating prices.
The discussion also touched upon the recent meeting between the President of the Regional Government and the President of the Republic, where the revision of the Regional Finance Law was a key topic. This law is significant for Madeira as it dictates the financial relationship between the regional and national governments, impacting local fiscal policies.
Madeira, an autonomous region of Portugal, relies heavily on tourism and has a unique economic landscape. The proposed reduction in VAT is seen as a potential relief measure for both residents and businesses that are facing increased operational costs.
The call to reduce VAT is particularly pertinent considering Madeira's economic reliance on tourism, which has been recovering post-pandemic. Lower taxes could make the island more attractive to visitors, thereby boosting the local economy.
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Madeira Guide
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