(Finance) –
Extension to 2024 of the tax wedge cut, reduction of Irpef rates to three with the merging of the first two, support measures for families with children, resources for the renewal of public contractsstarting from those in the manufacturing sector healthcare. I knowno the main lines of action for the next budget law, according to what the Minister of Economy illustrated today, Giancarlo Giorgettiin the hearing on the Update Note of the Economic and Finance Document in the Budget Commissions of the Senate and Chamber.
The measures will be implemented partly at a deficit, with the announced difference of 15.7 billion, partly with a reduction in spending. The cut in the tax wedge which, the Minister said “will absorb the resources made available by the budget gap, is necessary, in light of the recent Istat data which show a worsening of the economic conditions of some segments of the population, it is the government’s main measure I am proud to have placed a mortgage for the benefit of workers.” The tax reform outlined by the delegation will be launched with the maneuver, starting with the reduction of Irpef rates from four to three. A measure that “will lead to a reduction in the tax burden in favor of families, who will be able to benefit from a greater disposable income”. As part of the reform “measures will also be envisaged which, in order to address the problem of the birth rate decline, provide support to families with medium and low incomes who have more than two children”.
“The budget law – continued Giorgetti – will start the process of renewing public employment contracts for the three-year period 2022-2024, which will help give confidence to many families by allowing them to recover part of the purchasing power lost over the last two years. Particular attention will be paid to medical and healthcare personnel, as part of the additional resources that will be allocated by the budget law to financing healthcare spending”. How much will the maneuver amount to in total? The Minister gave no indications but was clear on one fact: “15.7 billion will come from the budget deviation”, nothing more. The rest of the coverage will have to be found mainly from spending cuts. “QThis is a responsible and serious maneuver that involves also a large cut in spending, which will be there. This means – Giorgetti specified – that someone will not be happy”. Finally, the public debt, the sustainability of which “represents the most important challenge that the country is called upon to face, in consideration of the particular attention reserved by the new European budget rules and, above all, to strengthen investor confidence”
As mentioned, the budget gap for 2024 “it will be exactly 15.7 billion. I believe, and this is the government’s and my personal position, that this is the best we can allow ourselves. I spoke of prudence that everyone calls upon us but also of realism”, “This deviation – he underlined – serves to put an extra 60, 80, 100 euros on the paychecks of employees who have low incomes”.
On privatizations “we think there are situations in which, due to opportunity and evaluation of a derivative nature, as is the case of MPS, there is an exit timetable that we are evaluating, also from an industrial policy perspective.”