• Maneuver, towards cuts in plastic taxes and company cars
  • Budget law, Chigi sources: "It is not and will not be the tax maneuver"
  • Economic maneuver, the debate in the Senate: controversy over plastic tax

Share

12 November 2019 "The estimate of growth of the Italian economy of 0.6% contained in the budget law" is confirmed as acceptable and in line with our most recent assessments ", said the deputy director general of Bankitalia, Luigi Federico Signorini , during a hearing on the budget committees maneuvering of the House and Senate at Palazzo Madama, and also the 1% growth estimate for 2021 set in the maneuver "is not out of reach" but it is necessary "to maintain financial conditions extended and that the international situation should not be further weakened ", underlined Signorini. The estimates for 2020 - he continued -" are reasonable "while in the medium term the programmatic framework envisaged by the Government is based on two assumptions:" maintenance, from 2021, of significant revenues deriving from the implementation of safeguard clauses relating to VAT rates; the continuation of extended financial conditions ".

Alternative covers for VAT clauses 2021/2022
In 2021 and 2022 the residual safeguard clauses remain at a "significant" level net of the effects of the maneuver, equal to one percentage point of GDP and 1.3 points respectively. If they were abolished without compensation "the structural deterioration of the accounts would be considerable" and therefore "the need to find alternative coverings will be repeated", highlighted the deputy general manager of the Bank of Italy.

Simple rules for electronic payments, possible 10% transaction increase
Bankitalia then "looks favorably on initiatives that encourage the use of innovative tools, which reduce transaction costs and can help recover the delay in the digitalization of the Italian economy", said Signorini addressing the issue of measures to reduce use of cash. "It will be important to establish forms of practical implementation that are simple and effective", he underlined, hoping that "any bureaucratic burden on the parties involved" should be avoided. For the Bank of Italy "the efficiency gains deriving from a greater diffusion of electronic money can and must benefit everyone: consumers, suppliers of goods and services, banks and other financial institutions. It is important that the managers of the payment networks invest resources adequate for technological innovation ".

Finally, according to Via Nazionale, "the customer's propensity to use the card is sensitive to monetary incentives similar to those envisaged by the maneuver (cash-backs, rewards, discounts, points). On the basis of the generally estimated elasticity, there is can expect, as a joint effect of the incentive measures provided by the government, an increase in electronic transactions of the order of 10 percent ".

Ok asylum bonus but necessary measures at full capacity
"The effects of the bonus for nursery schools are potentially relevant, but the choice to link it to the ISEE, an indicator of the resources available at family level, could discourage the job offer of a second income earner, especially near the thresholds which determine the amount of the amount: all the more since the fees that families pay for nursery schools are already modulated according to the ISEE The experience will give useful indications to define the system of support measures to the family "said Signorini.

Plastic Tax in line with the EU but limited bonus
With regard to the introduction of a non-compostable plastic tax Bank of Italy underlines that "it is in line with the objectives of a recent European directive", but "the process of technological modernization of companies could be affected by the reduced size and short duration of the credit of tax for the technological adaptation of the plants "said the deputy general manager of the Bank of Italy.