PS-Madeira Calls for VAT Reduction Amid Rising Living Costs
Madeira GuideCélia Pessegueiro, leader of PS-Madeira, urges the Regional Government to cut VAT as a measure to combat soaring living costs, aiming to prevent a crisis for Madeira families.
The president of PS-Madeira, Célia Pessegueiro, has renewed her call for the Regional Government to reduce the Value Added Tax (VAT). She believes this reduction is essential to help all residents of Madeira cope with the increasing cost of living.
During a meeting of the party's Political Commission, Pessegueiro emphasized that lowering VAT is the only effective way to prevent local families from facing a financial crisis. The rising cost of living has become a significant concern for many residents and businesses on the island.
The meeting also coincided with discussions between the president of the Regional Government and the president of the Republic. Among the topics discussed was the revision of the Regional Finance Law, which could have implications for Madeira's fiscal policies.
Madeira, an autonomous region of Portugal, has its own fiscal policies, which include the ability to set regional tax rates. However, any changes to such policies can have wide-ranging impacts on both the local economy and public services.
Pessegueiro's proposal comes at a time when economic pressures are mounting, not only in Madeira but across many parts of the world, due to global inflationary trends.
Sources
Madeira Guide
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