The Juntos Pelo Povo (JPP) party believes the Regional Government of Madeira has the financial scope to reduce fuel prices. In response to recent price hikes, the JPP announced it will submit a legislative initiative to the Legislative Assembly this week.
MP Luís Martins argues that the Executive is benefiting from increased VAT revenue due to rising prices, suggesting a further reduction in the Tax on Petroleum and Energy Products (ISP) is feasible without a global revenue loss. The party also advocates for a gradual reduction in the VAT applied in the region.
The JPP links fuel costs to the general increase in the cost of living and its impact on inflation. The legislative initiative aims to alleviate the financial burden that fuel represents for Madeiran families and businesses.
