The election of a leftist president will likely see Chile’s government impose higher taxes on wealthy households and large companies, especially those in the crucial mining sector, which could worsen the business climate in the country. Leftist student leader Gabriel Boric will be sworn in as Chile’s next president on March 11 after beating out his right-wing opponent Jose Antonio Kast in the Dec. 19 presidential runoff race. After the final results showed Boric securing 55% of the vote, Kast quickly conceded and called for “constructive collaboration.” At 35 years old, Boric will be Chile’s youngest-ever president. While he moved from the far-left to the center-left over the course of his campaign, Boric remains highly focused on economic inequality, social justice and promises to make significant investments in an expansive social net by reallocating services -- including education, health care and the pension system -- from the private to public...
