During an event in the Chamber of Deputies, members of the Parliamentary Front for the Free Market (FPLM) criticized the Lula government’s proposal to end the anniversary withdrawal from the Service Time Guarantee Fund (FGTS).
According to data presented by the financial institutions sector, the possible end of the FGTS anniversary withdrawal could affect more than 35.5 million families.
For deputy Captain Alberto Neto (PL-AM), member of the FPLM, the end of the anniversary withdrawal could have serious impacts on the economy and the financial freedom of citizens.
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“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”, said the parliamentarian during an FPLM event in the Chamber, this Wednesday (11).
Data from the Federal Government on the FGTS indicate that the interest rate for anticipating the birthday withdrawal is 1.79%, the second lowest in the country, second only to interest for real estate financing.
“This rate is essential for the subsistence of many Brazilians, considering that 75% of those who resort to early birthday withdrawals are negative and do not have access to credit in the market. The Government is betting on replacing the birthday withdrawal with private payroll loans, but the FPLM believes that this should just be another option for Brazilians, after all, our country is one of the countries that has the most credit difficulties in the world”, said the Front Parliamentarian in a note sent to People’s Gazettethis Friday (15).
Workers will run out of options
For the secretary of the FPLM and executive director of the Instituto Livre Mercado, Rodrigo Marinho, “the more options the Brazilian worker has to get cheap credit, the better”.
“Our interest rates are high, because the government spends a lot and irresponsibly. And obviously someone has to pay this bill. That is why the FPLM and the Instituto Livre Mercado clearly support the maintenance of the FGTS anniversary withdrawal, because a good public policy cannot end simply because it was made by another government”, he added.
Even though she has a position against the existence of the FGTS, congresswoman Any Ortiz (Cidadania-RS) said that “the anniversary withdrawal comes as an advance within something that should not exist”.
“I think at least people should have access to a small slice of their own resource once a year. Furthermore, we need actions that enable the generation of jobs and income, so that we can really seek and look to our horizon for a more developed and prosperous country”, declared the parliamentarian.
Birthday withdrawal has already generated R$ 151 billion
Since its implementation in 2020, the anniversary withdrawal has already generated R$151 billion in credit in the Brazilian economy.
In 2023, R$38.1 billion were granted in this modality. Even with the increase in credit granting, the fund grew from R$424 billion in December 2020 to R$615 billion in 2024.
“We come here to discuss the rights of workers, especially the poorest, which this government says so much that it protects. Count on us in Parliament, acting in defense of the anniversary looting and all measures in favor of freedom”, said deputy Mayra Pinheiro (PL-CE) during the FPLM event.
