Lula Plans Taxes on Banks and Betting to Ease Fiscal Woes (1)

Brazil’s government will propose tax increases on high-income earners, some financial institutions and online betting alongside measures to curb social spending, according to Finance Minister Fernando Haddad.

The measures, which are part of the government’s attempt to raise revenues and shore up the country’s budget outlook after the defeat of a key fiscal measure in Congress, will be presented Tuesday, Haddad said in a TV interview with GloboNews.

The economic team will address taxation and spending measures in two separate proposals, according to the minister.

The economic team’s plan includes an increase in income levies on interest on equity ...