Parliament approves income tax cuts for first six brackets
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The Portuguese Parliament has approved a bill to lower the personal income tax (IRS) for the first six tax brackets. This legislative action follows discussions around the 2027 State Budget, which was reportedly drafted with some assistance from artificial intelligence and is being scrutinized for its optimistic projections and the government's cautious approach to achieving a surplus.
In the judiciary, Amadeu Guerra, the Prosecutor-General of the Republic, has instructed magistrates to appeal decisions where investigations are excessively delayed, emphasizing accountability for respecting deadlines. Meanwhile, Mário Centeno, the Governor of Banco de Portugal, has denied any conflict of interest regarding his move to a Spanish group that acquired EuroBic, stating that the acquisition was in motion before his appointment to the Bank of Portugal.
The Portuguese state continues to increase its presence in strategic companies, having acquired an additional 5.3% stake in REN from Fidelidade, which now secures a total of 19% of the company's capital. On the political front, José Pedro Aguiar-Branco, the President of the Assembly of the Republic, has raised questions concerning a ten-day trip to the United States undertaken by members of parliament.