Finance Minister Joaquim Miranda Sarmento warned that reducing VAT on fuel and essential food items would cost two billion euros and push public accounts into a deficit. The PS and the Communist Party (Partido Comunista Português or PCP) continue to advocate for these measures to mitigate the rising cost of living.
Finance Minister warns against VAT cuts
Sunday, 20 September 2026AI summary
Context & Explainers
- Minister of State and Finance (2024–present)
- Party: Social Democratic Party (PSD), Partido Social Democrata
- Background: Economist, university professor (ISEG)
Joaquim Miranda Sarmento is Portugal's Finance Minister in the AD government led by Luís Montenegro. An economist and professor at ISEG (Lisbon School of Economics & Management), he served as PSD parliamentary group leader before joining the government.
As Finance Minister, he oversees the state budget, tax policy, public debt management, and fiscal relations with the EU. His decisions on tax brackets, IRS withholding tables, housing incentives, and public spending directly affect residents' cost of living and investment climate.
António Filipe is a long-serving member of parliament for the PCP (Partido Comunista Português) and a specialist in constitutional law, who has served as a vice-president of the Assembly of the Republic. He was the PCP-backed candidate in the 2026 presidential election.
6 sources
- VAT reduction on fuel and food would cause a budget deficit, warns Finance Ministerdn.pt ·
- Teixeira dos Santos: "Lowering fuel prices would be misleading"Plataforma Media ·
- Miranda Sarmento: lowering VAT on fuel and food would lead the country to a deficitpublico.pt ·
- Carneiro accuses the Government of operating in slow motionobservador.pt ·
- Finance minister warns VAT cuts would push Portugal into deficitportugalresident.com ·
- PCP criticises Government action on fuel and reiterates price fixingcmjornal.pt ·
