Matthei Gives Chile Vote Pledges a Reality Check on Fiscal Woes

Faced with an electoral campaign fought on two fronts — against the left and the hard right — Chile’s presidential front-runner Evelyn Matthei is trying to mark a difference not through sweeping promises, but by recognizing the cold, hard facts of a weak economy.

Yes, they aim to cut the corporate tax rate, but it is going to be gradual, said Cecilia Cifuentes, one of Matthei’s economic advisers. And yes, they will boost spending on fighting crime, but there are no El Salvador-style mega-prisons in the works.

“The objective here isn’t like what happened in previous campaigns, when one ...