CIP meets with PS leader to discuss “matters of national interest”

The Portuguese Business Confederation (CIP), led by Armindo Monteiro, will meet with the general secretary of the Socialist Party, José Luís Carneiro, on Thursday at 5 pm, with the aim of discussing matters of national interest in the economic and business areas.

The meeting will take place at the CIP headquarters and will take place the day after the Legislative Assembly of the Republic approves the IRS reduction . The executive's proposal envisages a 0.5 percentage point reduction in the 1st, 2nd, and 3rd tax brackets; 0.6 percentage points in the 4th, 5th, and 6th tax brackets; and 0.4 percentage points for the 7th and 8th tax brackets. It also paves the way for a further reduction in the 2nd to 5th tax brackets in 2026.

The proposal was approved with votes in favor from PSD, CDS-PP, Chega, Iniciativa Liberal (IL) and PAN, abstention from PS and JPP and votes against from Livre, PCP and Bloco de Esquerda (BE).

CIP was founded in 1974 and represents more than 150,000 companies, around 1.8 billion workers, and 71% of Portugal's Gross Domestic Product (GDP).