“Not all sectors can be saved” – Jornal Económico

Manuel Caldera Cabral served as Minister of the Economy between 2015 and October 2018, in Antonio Costa’s first legislature. In an interview with Jornal Económico, he defended the corporate hybrid credit instruments and more financing through capitalization in recovery. The current director of the Insurance and Pensions Fund Supervisory Authority has launched the book “Building an Alternative: Economic Policy to Prevent the Spread of the Coronavirus and Respond to the Covid-19 Crisis,” edited by Don Quixote. He believes that imposing a global minimum tax on companies will create more tax justice, but he opposes raising taxes in the current context.

The gap is still short, but if we look back there are areas I would bet on In different policies?
Today we have to do it differently, in the sense that, for example, in startups and technology companies, Portugal is already at a different level and that the same investment capital to finance operations must be of greater magnitude. Portuguese start-ups are making much more investments, but they need to continue the measures we have taken to strengthen the ecosystem. The incentives for the emergence of new entrepreneurs must continue. This was an important aspect of Startup Portugal. At the moment, it is very necessary to implement corporate acceleration programs in partnership with incubators and universities. Today’s politics should be more different in that we are in an economic crisis. For example, what we did in tourism was very important, but it is clear that today there is a need for support measures for this different sector. While in the previous crisis, tourism was one of the first sectors to recover and recovered with great strength, but in this crisis it was one of the sectors most affected. We must provide robust support and support in these two years so that tourism can then provide the support it has already provided in the past for economic recovery and job creation.

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