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Reuters
Reuters
Business

Brazil's Lula pledges new minimum wage policy, expanded tax exemption

FILE PHOTO: Brazil's President Luiz Inacio Lula da Silva gestures as he arrives to attend a business meeting, at Casa de America, in Madrid, Spain April 25, 2023. REUTERS/Juan Medina

Brazilian President Luiz Inacio Lula da Silva pledged on Sunday to introduce a new policy of real increases in the minimum wage and announced plans to raise the income tax exemption for lower-income earners.

The remarks, made during a radio and TV broadcast for Labor Day, which is a national holiday on Monday, reinforce leftist Lula's strategy of boosting workers' disposable income to help spur economic growth.

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