The group of economists invited by the PS to trace the macroeconomic scenario for the next four years suggests that the reversal of IRS surcharge value and wage cuts in the public service is made within two years, half of what is suggested by the Government. Socialists still admit the temporary reduction of TSU to workers who can drop from 11 to 7 percent.
In the report entitled “ A decade for Portugal: An alternative economic scenario ” and presented on Tuesday by the coordinator of the 12 economists group, Mário Centeno, points to the gradual elimination of the surcharge IRS in 2016 and 2017, with an estimated budgetary impact of around EUR 430 million in the second year reduction.
The replacement of public wages is also made in 2016 and 2017 at a rate of 40% per year.
In the stability program, the Government points to a reversal of these measures over four years until 2019.
The document now released is not a program for the Socialist Party. But António Costa, who also made a statement in the presentation, seemed to give their support to these two measures proposed. “You do not need to wait for the end of the legislature to restore the IRS and the value of civil service wages. It is possible to accelerate,” said the general secretary of the PS, even recognizing that the technical report inspires the PS government program, although “not a bible.”
The economists still advocate changes in TSU affecting both the workers and businesses. For workers, a gradual and temporary relief is proposed, by lowering the contribution rate from the current 11%, to 9.5 in 2016, 8 in 2017 and 7 in 2018. Since then, gradually rising 0.5 points per year to reach 11 percent in 2026. A measure to benefit only the workers on behalf of others and independent, with less than 60 years. But the benefit from this reduction will also see their pensions lose some value, which economists estimate at most be 2.6%.
The companies, the report proposes a reduction of 4 percentage points but only for permanent contracts. A Spur to permanent contracts that would be offset by the “extension of social security funding base.” By creating an inheritance tax on inheritances over one million euros, the suspension of the reduction of the IRC provided by the current government, and even a “fee against precariousness” to be applied to companies “with excessive rotation of workers.”
“We can grow to an average of 2.6%.” This was one of the final goals set by the group of economists that the PS invited to draw the macroeconomic scenario between 2016 and 2019, which also indicated the possibility of get to the last year of the next term with a deficit of 0.9 percent.
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