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Cencosud’s announcement to backtrack on its adherence to the Employment Protection Law started a new chapter in this controversy and opened a space for new modifications to the legal regulations.
Under this logic, and in the midst of a complex scenario for the labor market, the Minister of Finance, Ignacio Briones, re-entered the controversy fully and specifically referred to the modification that prohibits the distribution of dividends from all public limited companies. and the incidence that in his opinion has on the increase in layoffs.
In this line, he looked at Congress and said that “the way it was legislated, I think it was passed by several peoples.”
And to this, he added that the modification can generate several problems, “I believe that by preventing any corporation (open or closed) that avails itself of the temporary suspension from being prevented from distributing a weight of its profits, I clearly believe that this generates an incentive to fire. “
On another new modification to this legal regulation, Briones opened up to the possibility and assured that they will evaluate it. In this sense, he reiterated that the government warned of the impact that a measure like this would have on employment.
“We are looking at the alternatives, but we have to take care of the problem that this can generate the way it was,” said the minister.
This point becomes relevant, because yesterday the company reported that it would refund the amounts paid by the AFC to its workers. However, in practice, the return of benefits in the event that a company finally decides not to avail itself of this law, is an action that is not regulated in the current legal regulations, so it would not be possible for these resources to return.
In the quote he also referred to the no change in the CPI in April. On this, the head of Public Finances assured that it means a relief for the Chilean pocket, since the accounts that are indexed to inflation will not experience variation.
He explained that as a result of the Covid-19 there is a supply and demand shock. “You have to monitor this, in any case the inflation expectations for the year are anchored in the ranges defined by the Central Bank.”
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