Recharge of diesel will compensate for the extension of the program for cars

Confirmed earlier by the Ministry of Finance, the extension of the incentive program for the purchase of discounted cars will cost R$ 300 million. This statement was given by the Minister of Finance, Fernando Haddad, on Wednesday night (28). According to him, the resources will come from the anticipation of R$ 0.03 of the diesel recharging that will start in October.

“It was going to be a R$ 1.5 billion program and now it’s going to be a R$ 1.8 billion program,” said Haddad. Of the extra R$ 300 million, R$ 100 million were provided for in the original provisional measure, which granted a break in resources, but the other R$ 200 million will require a new provisional measure that changes the diesel reencumbrance.

“To contemplate another BRL 200 million, you will have to change BRL 0.03 in the amount of the reencumbrance from October because of the ninety (90-day period before the increase of any contribution to the Union)”, detailed Haddad.

The minister said that this increase will not be felt by the final consumer. “At the pump, this increase will not happen. Because there has already been a further drop in the dollar and a drop in the price of oil. So we’re not worried about that. It has no impact on the consumer”, commented the minister.

high demand

According to Haddad, the expansion of the program was necessary to meet the high demand for individuals. “It accumulated a queue and was brought to President Lula’s consideration. President Lula decided to attend to the queue that formed until yesterday. So we are going to extend a little bit to meet this queue”, informed Haddad.

In the early afternoon, the Ministry of Finance’s press office had confirmed that the discounted car purchase program would be extended, with the expansion for companies to acquire cars with lower prices. The minister had advanced the information to an interview program that will air tonight.

tax credits

The fleet renewal program is financed through tax credits, discounts granted by the government to manufacturers in the payment of future taxes, totaling R$ 1.8 billion. In exchange, the automotive industry undertook to pass the difference on to the consumer.

It is planned to use R$ 700 million in tax credits for the sale of trucks, R$ 800 million for cars (against R$ 500 million previously) and R$ 300 million for vans and buses. The program has a term of four months, but it can end sooner, as soon as the tax credits are exhausted.

To compensate for the loss of revenue, the government intends to partially reverse the exemption on diesel that would be in effect until the end of the year. Of the R$ 0.35 of the Social Integration Program (PIS) and Contribution for the Financing of Social Security (Cofins) currently zeroed, R$ 0.11 will be re-encumbered in September, after ninety days, a period of 90 days determined by the Constitution for the increase in federal contributions. With the extension, the reencumbrance will rise to R$ 0.14 in October.