Ecuador: Ruling Party to Reintroduce wealth redistribution legislation, after postponement

morningstaronline.co.uk reported ECUADOR’S ruling Pais Alliance will reintroduce wealth redistribution legislation which was postponed this year in the face of opposition protests.

President Rafael Correa announced on Tuesday that the two Bills to increase inheritance and capital gains taxes for the rich would come before the National Assembly in the next few months.

“It is time to democratise wealth,” he said at a ceremony commemorating the founding of the southern city of Loja. “Nothing justifies the stunning accumulation of property in the hands of very few families. That can only be explained by centuries of exclusion.” Read Article

SPANISH SLANG ECUADOR – READ THE BOOK