Paulo Cafôfo, parliamentary leader of the PS, presented findings from the Parliamentary Conference on the cost of living in Madeira, stating the region faces stark economic contrasts. Despite the government's proclaimed economic growth, with record GDP and tourism, Cafôfo emphasized that most Madeirans do not feel this progress in their daily lives.
The socialist deputy noted that the average monthly remuneration in Madeira in the second quarter of 2026 was lower than the national average and decreased after accounting for inflation. Cafôfo criticized the regional economy as "levelled at the bottom" with "minimum wages," leading many residents to struggle with unexpected expenses amid high inflation.
The PS proposes returning additional VAT revenue from fuel to families and businesses by reducing the ISP (Fuel Tax), suggesting a cut of 9 cents per liter for gasoline and 14 cents for diesel. Cafôfo also criticized VAT, arguing that while the minimum rate was lowered, many families pay VAT daily on essential goods, and the government should not settle for minimal actions, especially considering investments in projects like golf courses.
