In an interview with Folha de S. Paulo, Rodrigo Prado commented on the Social Secuity Reform which would allow savings of up to BRL 1 trillion in ten years, but conversely would lead to a tax increase for banks. Specialists suggest that the reflection of the high tax will once again reach the consumer through its conversion into increased interest. Rodrigo Prado asserts that “banks will not reduce their own profitability. Maybe it is not the best mechanism, as [the Congress] targets banks but the measure will end up affecting consumers.”
This content is available only in Portuguese. Find out more here.