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Brazil to revisit gambling legalisation in bid to balance budget

21st September 2015 10:22 am GMT
Brazil

Faced with spending cuts and tax increases totalling BRL65bn (€14.5bn) in its latest budget, the government of Brazil has announced plans to revisit legislation to legalise and regulate gambling nationwide.

The budget includes significant cuts to health and social housing programmes and infrastructure investments, together with the introduction of a tax on financial transactions, as the country combats recession.

Without this action, it is estimated that the country will have a BRL30bn shortfall in its 2016 budget.

In [...]

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