Santa Cruz municipal assembly debates 13.2 million euro loan

During a municipal assembly meeting in Santa Cruz, political parties raised concerns regarding the local government's financial strategy and management. The Socialist Party (PS) questioned a proposed 13.2 million euro loan intended to fund eleven municipal investments over a 20-year period.

António Alves, a PS municipal deputy, criticized the planning and execution of these projects, specifically citing the Praia dos Reis Magos and the Caniço taxi stand. He noted that the Reis Magos project, originally presented in 2017 with a 360,000 euro budget, has resurfaced in 2026 with a 2 million euro allocation. He highlighted that 6 million euros of the proposed loan are dedicated solely to these two long-standing projects.

Additionally, Lídia Albornoz of the CDS party called for greater fiscal ambition, financial rigor, and transparency in local governance. She expressed opposition to a proposal to return only 1% of IRS, arguing that the law allows for up to 5%, and advocated for more significant changes to the tax burden.