The Parliamentary Front for the Free Market is working together to try to block in Congress the proposal that the minister (Labor) wants to send to end the (Service Time Guarantee Fund), one of his goals at the head of the department.
This Wednesday (13), the front will hold, in the Noble Hall of the Chamber of Deputies, an event with parliamentarians and experts with the theme “The end of the FGTS anniversary withdrawal: The decrease in the supply of credit and the impact on life of Brazilians”.
A member of the front, the deputy (PL-AM) states that the proposal could have serious impacts on the economy. “This proposal restricts the economic freedom of Brazilians. The birthday withdrawal and its anticipation are great facilitators of Brazilians’ lives, in addition to representing a fundamental instrument of financial freedom for many indebted families.”
Rodrigo Marinho, executive director of Instituto Livre Mercado, says that the extinction of this type of loan would force vulnerable citizens to resort to emergency financial operations with higher interest rates.
The end of the anniversary withdrawal has been defended by the Minister of Labor since before the president’s (PT) inauguration, but the proposal to forward the proposal to Congress has been postponed due to resistance in the financial system and in a wing of the government that fears that this will affect the credit market. On September 12, Marino.
The birthday withdrawal was created in 2019. It allows the worker to withdraw part of the FGTS each year.
On the other hand, the worker is prevented from withdrawing the full amount from the account if he or she is fired (only being able to access the amount corresponding to the 40% termination fine paid by the company). Adhering to the birthday withdrawal is voluntary and the amount that can be released annually depends on how much balance the worker has in their FGTS account.
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