(Finance) – The Minister of Economy, Giancarlo Giorgettireiterated that the macroeconomic and public finance framework of the Update Note “is based on the responsibility of caution realist which characterized the interventions adopted during the first year of the Government’s mandate”. “Le needs they scenarios that we have had to face so far have required us to make very difficult choices”, added the minister, “always aimed at ensuring adequate conditions to promote a growth sustainable and lasting of our economy”.
In light of the rules of Stability pact European Union “the iron control of spending is an imperative that can no longer be avoided”, Giorgetti recalled during the hearing on Nadef at the budget commissions of the Senate and Chamber.
However, the minister confirmed that “the extension for 2024 of the reduction of wedge taxwhich will effectively absorb the resources made available by the budget variance for interventions discretionaryis an intervention that we believe is necessary, also in light of recent ISTAT data, which show the worsening of the economic conditions of some sections of the population”. “The extension – he added – therefore represents a valid support for the incomes and consumption of families with lower incomes, which could also contribute to containing inflation expectations”.
There maneuver it will allow, he continued, “the implementation of the first phase of the tax reform outlined in the enabling law approved during the summer, which the Government intends to implement during the Legislature”. “The reduction to three rates of the tax on people physical – explained the Minister – it will lead to a reduction in the tax burden in favor of families, who will be able to benefit from a greater income available“. 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”.
Only after the maneuver, however, “can the level be defined and quantified, in relation to the GDPfrom the expense healthcare and comparisons with past financial years will be able to be fully carried out”. “With reference to the extensive media debate of recent days, which evidently does not grasp, or rather ignores, the accounting meaning of the concept of current legislation – he stated – , I underline that this trend does not include, net of allowance Of contractual holiday, the costs of the contractual renewal relating to the three-year period 2022-2024. The benchmark for the renewalas well as for the other sectors of the public sector, will be defined in the next budget law within the spaces compatible with the programmatic balances from the NADEF“.
“The sustainability of debt public represents the most important challenge that the country is called to face, in consideration of the particular attention reserved by the new European budget rules and, above all, to strengthen investor confidence”, the minister then declared. “The reduction of stock accumulated so far is one of the Government’s objectives, which however must be reconciled with the allocative and redistributive needs of the budget. Being able to find an effective one equilibrium point – added the Minister – among what may seem antithetical objectives is the only way to improve growth prospects and, therefore, stabilize market expectations”.