-
Four civilians, soldier killed in Afghan-Pakistan border clash
-
Milan-Cortina chief admits venue time pinch as Olympic torch relay begins
-
England make quick start after Australia take big lead at Gabba
-
Finally! India break toss jinx as Rahul gets lucky
-
Will EU give ground on 2035 combustion-engine ban?
-
England nemesis Starc stretches Australia lead in Gabba Ashes Test
-
Banana skin 'double whammy' derails McIlroy at Australian Open
-
Epic Greaves double ton earns West Indies draw in first NZ Test
-
Thunder roll to 14th straight NBA win, Celtics beat depleted Lakers
-
Myanmar citizens head to early polls in Bangkok
-
Starvation fears as more heavy rain threaten flood-ruined Indonesia
-
Sri Lanka unveils cyclone aid plan as rains persist
-
Avatar 3 aims to become end-of-year blockbuster
-
Contenders plot path to 2026 World Cup glory after Trump steals show at draw
-
Greaves leads dramatic West Indies run chase in NZ Test nail-biter
-
World record-holders Walsh, Smith grab wins at US Open
-
Ukraine, US to meet for third day, agree 'real progress' depends on Russia
-
Double wicket strike as New Zealand eye victory over West Indies
-
Peace medal and YMCA: Trump steals the show at World Cup draw
-
NBA legend Jordan in court as NASCAR anti-trust case begins
-
How coaches reacted to 2026 World Cup draw
-
Glasgow down Sale as Stomers win at Bayonne in Champions Cup
-
Trump takes aim at Europe in new security strategy
-
Witness in South Africa justice-system crimes probe shot dead
-
Tuchel urges England not to get carried away plotting route to World Cup glory
-
Russian ambassador slams EU frozen assets plan for Ukraine
-
2026 World Cup draw is kind to favorites as Trump takes limelight
-
WHO chief upbeat on missing piece of pandemic treaty
-
US vaccine panel upends hepatitis B advice in latest Trump-era shift
-
Ancelotti says Brazil have 'difficult' World Cup group with Morocco
-
Kriecmayr wins weather-disrupted Beaver Creek super-G
-
Ghostwriters, polo shirts, and the fall of a landmark pesticide study
-
Mixed day for global stocks as market digest huge Netflix deal
-
Fighting erupts in DR Congo a day after peace deal signed
-
England boss Tuchel wary of 'surprise' in World Cup draw
-
10 university students die in Peru restaurant fire
-
'Sinners' tops Critics Choice nominations
-
Netflix's Warner Bros. acquisition sparks backlash
-
France probes mystery drone flight over nuclear sub base
-
Frank Gehry: five key works
-
US Supreme Court to weigh Trump bid to end birthright citizenship
-
Frank Gehry, master architect with a flair for drama, dead at 96
-
'It doesn't make sense': Trump wants to rename American football
-
A day after peace accord signed, shelling forces DRC locals to flee
-
Draw for 2026 World Cup kind to favorites as Trump takes center stage
-
Netflix to buy Warner Bros. in deal of the decade
-
US sanctions equate us with drug traffickers: ICC dep. prosecutor
-
Migration and crime fears loom over Chile's presidential runoff
-
French officer charged after police fracture woman's skull
-
Fresh data show US consumers still strained by inflation
| RIO | -0.92% | 73.06 | $ | |
| CMSC | -0.21% | 23.43 | $ | |
| BCC | -1.66% | 73.05 | $ | |
| SCS | -0.56% | 16.14 | $ | |
| CMSD | -0.3% | 23.25 | $ | |
| NGG | -0.66% | 75.41 | $ | |
| GSK | -0.33% | 48.41 | $ | |
| JRI | 0.29% | 13.79 | $ | |
| BTI | -1.81% | 57.01 | $ | |
| BCE | 1.4% | 23.55 | $ | |
| BP | -3.91% | 35.83 | $ | |
| RBGPF | 0% | 78.35 | $ | |
| RYCEF | -0.34% | 14.62 | $ | |
| AZN | 0.17% | 90.18 | $ | |
| RELX | -0.55% | 40.32 | $ | |
| VOD | -1.31% | 12.47 | $ |
Taxes, labor laws, pensions: what Milei wants to do next
Boosted by his victory in mid-term elections, Argentina's libertarian President Javier Milei is preparing to forge ahead with a second wave of reforms, targeting the labor market, taxation system and, down the line, pensions.
But this time the abrasive right-winger, who in the past dismissed his opponents as "rats" and "traitors," is showing signs of being more open to dialogue.
- 'Most reformist Congress' -
His small La Libertad Avanza (LLA) party more than tripled its parliamentary seat tally in Sunday's mid-terms.
While it is still in a minority, LLA and its center-right ally, the PRO party of former president Mauricio Macri, will have a combined 107 seats in the new-look Chamber of Deputies, out of a total 257.
In the Senate, they will have 24 seats out of 72.
Milei has happily proclaimed that the new Congress, which will sit for the first time on December 10, will be "the most reformist... in Argentina's history."
- First: lower taxes -
Milei has made simplifying Argentina's byzantine tax code his top priority.
The 55-year-old economist has in the past branded taxes as "theft" and labelled those who stash their money into offshore accounts as "heroes" for managing to "escape the clutches of the State."
To stem tax evasion, he has proposed to lower 20 taxes and expand the tax bases by bringing more workers into the formal economy to share the burden.
To achieve that he proposes lowering employer payroll taxes, so that companies put workers on their books and hire new staff.
- Then: loosen labor laws -
Milei always wants to shake up Argentina's "anachronistic" labor code, "which is over 70 years old and not designed for today's world."
He argues that the current system is driving informality and wants to make it easier to hire and fire staff.
A bill drafted by a pro-Milei MP congresswoman proposes making working hours more flexible -- up to 12 hours a day -- and allowing a percentage of wages to be paid in non-monetary form, such as with food vouchers or coupons.
Milei also wants to end what he calls the "labor litigation industry" by introducing a fixed severance pay system.
The labor ministry has proposed negotiating wage agreements at the company rather than the sectoral level.
Milei says the proposals, which are being pushed by employers, would be a win-win for companies and employees alike.
But Argentina's famously combative unions have so far categorically rejected them.
As part of his triptych of new reforms, Milei has also floated a shake-up of the country's underfunded pension system, without giving details and making clear it would come last of the three.
- Can he do it? -
A more conciliatory Milei has repeated since Sunday that he is prepared to do deals with other parties to get legislation through Congress.
"The challenge facing the government is to build consensus," said Martin Rappallini, president of the Industrial Organization of Argentina.
Economist Pablo Tigani warned however that Milei's electoral honeymoon could be short-lived.
"When they start cutting pensions and rights, coupled with falling wages and a recession, social protests could accelerate and even explode," he told AFP.
C.Meier--BTB