Portugal's main opposition party promises tax cuts as election nears

FILE PHOTO: Portugal's opposition candidate Rui Rio of the Social Democratic Party (PSD) reacts after preliminary results of the general election in Lisbon, Portugal October 6, 2019. REUTERS/Rafael Marchante

LISBON (Reuters) - Portugal's main opposition Social Democrats promised on Friday to cut taxes on corporate profits and personal income if they manage to dethrone the front-running Socialist Party in a Jan. 30 election.

"We have to reinforce the competitiveness of our economy. We have to turn our economic policy towards companies because they are the ones that create better wages and better jobs," the centre-right party's leader, Rui Rio, told a news conference.