The president of Ecuador, on its last Saturday link, partially confirmed that he will veto the Draft Law for the Redistribution of Social Spending, approved by the National Assembly.
He said the veto is being given due to the inclusion of unnecessary or already contained issues in the text by some lawmakers at the time of adding comments.
He specifically pointed out two observations: “prohibition on financial institutions to transfer certain tax burdens in the project to their customers and users, otherwise, the Superintendency of Banks would issue sanctions” and “the Ministry of Economic and Social work should strengthen work in Amazonian and border areas to ensure that the Human Development Bond (BDH for its Spanish acronym) reaches the populations of those areas.”
Correa says “these observations are already part of the public policy and have executive competence.” However, he notes that the spirit of the proposal he sent, which is financing the rising of the BDH from $ 35 to $ 50 over bank taxes, still stands. (MZ)