The Portuguese Government announced an extraordinary supplement for pensioners with pensions up to 1,611.13 euros, in an estimated investment of approximately 400 million euros for the State. Payment will be made together with the December pension and should cover more than two million pensioners, according to Prime Minister Luís Montenegro.
In the fiscal area, a reduction of IRS up to the sixth bracket was also announced, with an estimated impact of 400 million euros. Montenegro stated that the decrease will be felt by all taxpayers due to the progressivity of the tax, beginning to take effect in November through the reduction of withholdings at source on salaries and the Christmas bonus.
The Prime Minister guaranteed that the measures will not result in an increase in public debt, justifying them with the economic performance and the budgetary management of the Executive. "Governing with responsibility means knowing how to distribute results without destroying the conditions that made them possible," he declared, rejecting the idea of a choice between "sound finances and social justice."
The two measures should cover more than two million households and will be approved on Thursday in the Council of Ministers.
