Taxing the richest 1% in Brazil could increase GDP by 2.4%

A research conducted by Made-USP showed that increasing taxation on the richest to transfer income to the poorest can help the Brazilian economy recover. The calculation is simple: a social protection policy financed by taxing the richest 1% in Brazil can ensure a transfer of R$125 ($23) per month to 30% of the poorest and generate a positive impact of 2.4% on GDP.

Source: Capitalist

Merger invests $37 mn in labour benefits startup

Swile and Vee Benefícios, the country’s first flexible benefits HR tech, have announced a merger that will invest more than R$200 million ($37 mn) in the benefits market by 2022. After an immersion in the last year, the French company saw Brazil as the epicentre of its global expansion, since the sector moves today, more than R$150 billion ($28 bn) per year and Vee as the company’s top priority for the coming years.

Source: Veja

Family indebtedness hits new record high at 51%

According to data from the Central Bank (BC), bank debts reached 51% of accumulated household income in the previous 12 months. The previous record had been recorded in the month of October 2020, with 49.81% of earnings. The historical series began in January 2015. Included in the account are all debts with banks, including those for home financing. In January 2019 – that is, before the pandemic -, this indicator was 45.19%.

Source: Infomoney