Gleisi accuses Ciro Nogueira of “spreading lies” about IOF and working “against the country”

Minister Gleisi Hoffmann (PT-PR), of Institutional Relations, accused Senator Ciro Nogueira (PP-PI) of “spreading lies” about the decree that intended to increase the IOF rate, and that he works “against the country” by making these allegations.

The attack occurred this Wednesday (9) shortly after the senator stated, in an interview with GloboNews , that the tax increase would directly affect the low-income population in the country.

"Ciro Nogueira, president of the PP, went on TV today to spread lies about the IOF decree. The measure does not and never has affected personal credit, which has not been changed. [...] Telling lies like this, on TV and on social media, is not opposing the government. It is working against the country, which is what marked the mismanagement during Ciro Nogueira's term as minister," he said on social media.

Ciro Nogueira was Chief of Staff of former PresidentJair Bolsonaro (PL), who Gleisi claims instituted a 6.39% rate on the IOF, contrary to the current government's decree that provided for 3.5% on international transactions.

"It should also be remembered that the IOF on international transactions, which the decree stipulates at 3.5%, was 6.38% under Bolsonaro's government," said the minister.

Earlier, Ciro Nogueira said he wouldn't oppose increasing the IOF tax on transactions involving foreign travelers and that he might consider discussing it. However, any tax that affects low-income individuals will not be accepted by Congress.

"We will not accept the IOF under any circumstances if it is not exempt for low-income people, refrigerator financing, supermarket financing, and advance payments for small businesses," he said.

The decree increasing the IOF tax rates is part of a package of federal government measures to balance public finances. The changes affect credit transactions, foreign exchange, and products such as VGBL-type private pension plans.

The proposal, however, was shot down by Congress, sparking a serious crisis between the Planalto Palace and the Legislature. The dispute reached the Supreme Federal Court (STF), which suspended both the government decree and the suspension decree approved by lawmakers and scheduled a conciliation hearing for the 15th.

Nogueira's criticism of the government also raises a sensitive issue: the presence of his party, the PP, in the Esplanade of Ministries. While he advocates opposition to the government, his fellow party member, André Fufuca, holds the position of Sports Minister.