Brazil's treasury secretary suggests raising spending limit in 2027
Ceron said that there was still no government decision on the matter, but that an eventual expansion should be limited to the amount necessary for those payments, not allowing for other additional expenses.
The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here.
The court-ordered payments are seen ranging from 30 billion to 40 billion reais ($5.25-6.99 billion).
"Given the level of court-ordered payments, which is not coming down, maybe the country will not be able to resolve this in the short term," he said.
Brazil's Supreme Court allowed part of the payments to be paid outside of the fiscal framework until 2026, but from 2027 they will again be included in the spending limit, with the government already anticipating a squeeze on public accounts.
This year, the Brazilian government should pay 70 billion reais in court-ordered debt in July, an amount that Ceron considers should not pressure inflation.
He also said that Brazil is committed to its fiscal rules but reforms are necessary to ensure they are preserved. A recent drop in commodity prices, as well as a stronger Brazilian currency, affect the country's tax revenues, he added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Powys County Times
10 minutes ago
- Powys County Times
Traditional public service media should be more discoverable on YouTube
Traditional public service media is under threat and needs to be more discoverable on popular video sharing platforms like YouTube, regulatory body Ofcom has said. Its report, Transmission Critical: The Future of Public Service Media, says the Government should bring forward legislation to help 'ensure that PSM content is prominent and easy to find on the platforms, and on fair commercial terms.' The regulator and competition authority has made a number of recommendations in its action plan that is seeking 'urgent clarity from the Government on how TV will be distributed to reach audiences in the future.' Group director for broadcasting and media at Ofcom, Cristina Nicolotti Squires, told the PA news agency: 'We've called it (the report) Transmission Critical because we think that public service media is under real threat. 'Broadcasters are experiencing quite tough financial challenges. The business model changes with audiences fracturing everywhere.' According to research from Barb, which is responsible for calculating UK TV official viewing figures, viewing on linear channels has fallen significantly in recent years and this decline is expected to continue. The report says that public service broadcasters (PSBs) will have to work 'much harder to create content that audiences want to watch' on platforms like YouTube as 'they are competing with every other content creator in the world.' Ms Nicolotti Squires said: 'We're not saying they have to go on YouTube, but we're just saying that public service broadcasters have got to make great content where audiences are, and audiences are increasingly going onto YouTube. 'They all have different deals with YouTube in terms of commercial returns, and that's down to them. But I just think it's important that the programmes that they're making, public service programmes, are available where people are. 'So just delivering on the linear channels, obviously, we're seeing that viewing has fallen significantly in those areas. So it's a question of, as I said, pretty much putting these great programmes where people are watching them.' A key objective of the Media Act, passed in 2024, was to make it easier to find content from PSBs like the BBC, ITV and Channel 4 on smart TVs. Ms Nicolotti Squires said Ofcom is now calling for 'a logical next step on video sharing platforms'. She added: 'It might require some further legislative changes to regulation. We're starting the conversation rather than finalising it all.' The report says that stable and adequate funding is needed from the Government and emphasises that discoverability on online platforms is particularly important for news and children's content. It also recommends that online platforms invest in media literacy skills while forging ambitious strategic partnerships that can compete with global streaming platforms. On top of this, Ofcom is launching a review of its regulation of broadcast TV and radio that will seek input from stakeholders about the priority areas for reforming regulation. Sarah Rose, president of Channel 5, said: 'We are pleased that Ofcom's review highlighted the challenges producing specialist children's content and called for commercially viable funding models among its recommendations. 'Channel 5's Milkshake! continues to navigate those challenges to remain the only public service broadcaster offering a daily programming block which targets preschoolers with original content rooted in the UK's Early Years Foundation framework.' A spokesperson for the Department for Culture, Media and Sport (DCMS) said: 'We welcome Ofcom's Public Service Media Review and we will now consider its recommendations.'
Auto Express
10 minutes ago
- Auto Express
The Electric Car Grant has shot the UK car industry in the foot
Talk about a great way to ruin good news. With electric car take-up growing far more slowly than required to hit the Government's ZEV mandate targets, the car industry has been crying out for incentives to help boost interest in what is still very much new tech to most drivers. Advertisement - Article continues below So it's impressive to do what a whole sector has been calling for but still shoot yourself in the foot with a scheme so complicated that no-one understands how it's going to work, or which cars will be eligible, days after it's announced. It's a shambles, or as one senior UK car industry exec put it to me last week, a 'flipping nightmare'. I also hear that the E-mail address that manufacturers need to use to register their cars wasn't even working when the announcement of the scheme went live. Then there's the issue of cars just over the £37,000 threshold, which is oddly close to, yet not the same as the Government's VED expensive-car cut-off of £40k. Brands will be frantically recalculating to see how many of the 15 or so cars within £3,000 of the £37k line could be reduced in price to become eligible. That's if they jump through the required eco hoops to make the cut for £3,750 or £1,500 grants. Renault's Scenic dropped by £200 within 48 hours of the announcement to be a fiver under the threshold. Provided Renault ticks those secret eco boxes. We've ended up with a scheme seemingly designed with what some might see as the noble aim of helping European brands to compete with Chinese rivals under the guise of environmental credentials. It seems – although any level of actual detail or evidence of a full plan from the Department for Transport would be helpful – that the environmental aspect of the grant is designed to increase transparency and encourage more local production. But because the policy apparently wasn't fully formed when it was announced, we don't really know. That causes a ripple through the market. EV purchases dived through the floor in the days following the announcement as buyers wait, potentially for weeks, to see if their prospective new EV gets a whopping discount. So the Government's move to boost EV sales could have harpooned them in the short term. Which is careless. Buy a car with Auto Express. Our nationwide dealer network has some fantastic cars on offer right now with new, used and leasing deals to choose from... Find a car with the experts Range Rover's secret mid-size EV: Inside its £500m factory Range Rover's secret mid-size EV: Inside its £500m factory We take an exclusive look inside JLR's revamped Liverpool site as the brand gears up for EV production Car Deal of the Day: The Audi A3 Saloon may be posh but not at this price Car Deal of the Day: The Audi A3 Saloon may be posh but not at this price It's posh, well appointed, and refined to drive – the Audi A3 Saloon is our Deal of the Day for July 18 Chinese cars will take over as Britain's best sellers Chinese cars will take over as Britain's best sellers With a dramatic rise in sales, Mike Rutherford thinks it's only a matter of time before Chinese cars outsell all other countries in the UK
The Herald Scotland
10 minutes ago
- The Herald Scotland
Tories slam SNP over A96 dualling - as repair bill revealed
Repairs totalled £14.9m in 2023/24, £11.8m in 2022/23 and £13.4m in 2021/22; up from £7.7 in 2020/21. The Scottish Government had announced plans to upgrade the A96 in 2016, promising to convert the 102 mile road into a dual carriageway by 2030. However, the £3b commitment was rowed back last year, as Transport Minister Fiona Hyslop blamed austerity from the UK Government and a lengthy review of the project for delays. Douglas Lumsden has criticised the delay. (Image: Conor McAuley) North East Conservative MSP Douglas Lumsden has slammed the government over the 'eye-watering' figures, which he said demonstrated that the A96 'is not fit for the 21st century'. Mr Lumsden added: 'After decades of neglect by the SNP, it's no surprise that repair costs are soaring each year as the road falls into a state of disrepair. 'This is the tragic reality of the dangers the road poses, yet the transport minister continues to kick the prospect of fully dualling the road into the long grass, despite the SNP's promise 14 years ago. Mr Lumsden went on to call on Ms Hyslop to 'stop this nonsense" and 'commit to the full upgrade, once and for all, before parliament resumes. 'The Scottish Government's failure to properly improve the A96 betrays local communities, undermines the North East's future connectivity and endangers lives,' he said. 'Rather than spending endless sums patching up the A96, the SNP must prioritise dualling the road as a matter of urgency.' In a Transport Scotland statement, a spokesperson said the nation's motorway and trunk road network was the Scottish Government's 'single biggest asset' - and that £714m was set to be spent in 2025/26, despite a decrease in capital project funding from the UK Government. The spokesperson added: 'We have continued to invest in the maintenance of all trunk roads, including the A96, in order to ensure the continued safe and effective operation of the network that road users rely upon. These costs also include repairs and recovery from storm damage, which are on the increase. Read more: Why does everyone seem to hate Maggie Chapman? 'Long overdue': Scottish young people weigh in on lowering of voting age Smoked salmon, Irn-Bru bhajis and micro herbs: What's on the menu at Bute House? 'Our current favoured position is to fully dual the A96 and we are already starting the dualling process from Inverness to Nairn, including a Nairn Bypass, having acquired the land for the scheme earlier this year. "We continue to progress the work to determine the most suitable procurement option for delivering this scheme and thereafter a timetable for progress can then be set in line with available budgets." The spokesperson noted that the [[Scottish Government]] had agreed to carry out a review of the A96 corridor as part of the Bute House Agreement, as their erstwhile partners in government, the Scottish Greens, were opposed to the road's dualling. An ensuing consultation received more than 1,400 responses from communities and businesses along the A96. 76% of respondents were 'dissatisfied' or 'very dissatisfied' with the draft outcomes of Transport Scotland's review, which recommended that the road not be dualled in its entirety. 'Any decision on the way ahead for the A96 corridor will need to take into consideration the UK Government's recent Spending Review and its impact on Scottish Budgets,' the spokesperson said, 'as well as the forthcoming update to the Scottish Government's Infrastructure Investment Plan, expected later this year.' Nairn MSP Fergus Ewing left the SNP in part over the dualling delays. (Image: PA) Longtime Nairn MSP Fergus Ewing left the [[SNP]] earlier this year in a row over the government's lack of progress in dualling the road. He will stand as an independent candidate in 2026. Writing in the [[Inverness]] Courier in March, he said: 'It's not good enough that both governments have these great plans and ambitions for renewables, mostly to be delivered in the north and north east, but they do not match them with commensurate investment in our transport and public services. 'We here are expected to do the work, to create the development, and the impacts of pylons and turbines, but are not to get the assistance to upgrade our roads, schools, GP practices, Raigmore, or indeed the rail services about which we are getting many more complaints of late. 'Now, near on £100 million has been, or will shortly be, spent on the A96 and not one inch of tarmac laid.'
