Fiscal Policy Showdown

MEXICO - Report 24 Sep 2013 by Guillermo Valdes and Esteban Manteca
Executive Summary Key elements in President Enrique Peña’s fiscal reform proposals have run up against considerable resistance in the two weeks since they were unveiled. Powerful business leaders and associations were quick to criticize the initiative for not going as far as they had expected, especially for failing to apply the VAT to basic foods and medicines, and for lacking any measures for clamping down on informal-sector tax evasion. More discretely, they have expressed their dismay at the administration’s intent to eliminate fiscal consolidation rules, an issue on which we can expect...

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