Chile’s Communist Contender for President Seeks Economic Overhaul
- Daniel Jadue wants higher taxes and a public pension system
- He is tied for top spot in a nationwide presidential poll
An early front-runner for Chile’s presidential vote in November is proposing a radical overhaul for one of South America’s richest countries, with higher taxes, a revamp of the pension system, more state involvement in the economy and regional cooperation to discourage companies from crossing borders for lower tax rates.
Daniel Jadue, the Communist mayor of a Santiago neighborhood, said if elected he would prioritize a tax reform to raise revenue by about 10 percentage points of gross domestic product to pay for the creation of a new state pension system and other programs designed to reduce inequality. He expressed little concern about reassuring international investors nervous about another country in the region making a sharp turn to the left.