Finally, reducing informality is a key challenge to increase revenues, with significant implications for tax policy. The level of informality - as measured by the share of people not contributing to social security - in Chile, although low for Latin American standards, is high compared to other OECD countries. There are many reasons why broadening the tax net to informal operators should be a priority: it would not only raise additional revenues, it would also restore equity between formal taxpayers and informal operators, raise social welfare as workers employed in the informal sector have limited access to social protection, and ultimately boost economic growth as productivity in the informal sector tends to be lower than in the formal sector.