Powering Up

Following congress's rejection of the government's plans to raise mining royalties on foreign firms in an effort to help raise funds for post-earthquake reconstruction, Chilean President Sebastián Piñera has vowed to keep working to gain legislative approval for his proposals. Given that the centre-left rejected Pinera's original proposal on the basis that they were not permanent (an option which the president described as 'incomprehensible'), we do not believe the government will be able to find the necessary support required to pass the laws in the near term, as the gulf between lawmakers is still too wide in our opinion.

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