Brazil Front-Runner's Economic Guru Recoils After Tax Fiasco
- Guedes cancels third speaking engagement after Bolsonaro tweet
- Bolsonaro denies wanting to recreate financial transaction tax
Jair Bolsonaro, presidential candidate for the Social Liberal Party, third right, and Paulo Chagas, candidate for governor of the Distrito Federal, second right, wave to supporters during a campaign rally Ceilandia, Brazil, on Sept. 5, 2018.
Photographer: Andre Coelho/BloombergThe top economic adviser to Brazilian presidential front-runner Jair Bolsonaro is ducking the limelight after an apparent dress-down from his boss over a tax plan.
Paulo Guedes canceled his public appearances for a second straight day after Bolsonaro denied reports that they intended to re-create a levy along the lines of the so-called CPMF, a financial transaction tax that ended over a decade ago. Guedes didn’t respond to requests for comment but earlier in the month told Bloomberg he would consider implementing a broad transaction tax while eliminating several others. Earlier on Friday he canceled two scheduled talks, including one at the American Chamber of Commerce in Sao Paulo. On Thursday he called off an event at Credit Suisse.