President Luiz Inácio Lula da Silva used the launch of the Plan Safra 2025-2026 to announce R$516.2 billion in subsidised credit for medium- and large-scale farmers, saying the package will be “one of the biggest boosts to the agro-industry in the country’s history.” In his speech at the Palácio do Planalto, Lula mounted a strong defence of Finance Minister Fernando Haddad, calling him “one of the most serious” ministers the country has had and arguing that Haddad is paying “the price for being honest.” Lula criticised former economy minister Paulo Guedes and questioned why previous administrations were not pressed on fiscal responsibility. The president also attacked his predecessor Jair Bolsonaro, declaring that he would “never ask supporters for a Pix” donation or request amnesty before any conviction, adding that “whoever is ‘frouxo’ shouldn’t commit wrongdoing.” Lula reiterated that his administration seeks “justice tributária,” insisting the overall tax burden is lower than in 2011 and that higher levies should fall on a small group of high-income earners. The government has asked the Supreme Court to reinstate a higher IOF rate after Congress struck it down, prompting opposition lawmakers to warn that Lula is “at war” with the legislature.