Italian families are indebted for an average amount of 20.549 euros. Overall, the accumulated “liabilities” with banks and financial institutions amounted to almost 534 billion euros. The figures, prepared by the CGIA Research Office, refer to 31 December 2017. Since 2014 the trend has been constantly growing; in the last 3 years the debt has increased by 40,6 billion euros (+8,2 per cent) and is largely attributable to the fact that credit institutions have returned to lend money to Italian families. Between the end of 2016 and the end of 2017, for example, bank lending to consumer households for house purchases increased by 1,9 per cent, while consumer credit data, including financial ones, indicate a +8,3 percent. The economic role of Italian families is very important: around 60 per cent of the national GDP is attributable to the consumption of households. And any increase in VAT could further compromise the economic stability of the latter, especially those located in the most difficult areas of the country. “Even if it were only selective - declares the coordinator of the CGIA Studies Office Paolo Zabeo - any increase in VAT would worsen, in particular, the economic situation of the less well-off families. I would also like to point out that not even the operation minus personal income tax plus VAT would be zero balance. The 10 million Irpef taxpayers who fall within the no tax area, including the unemployed and those who receive a disability pension, would not benefit from the introduction of the flat tax. On the other hand, they would suffer an increase in the prices of goods and services which would deprive them of further liquidity ”. At the end of 2017, the CGIA Studies Office reports, the families most "exposed" to banks lived in Lombardy. In the first place we see those residing in the province of Milan, with a debt of 29.595 euros; in second place those of Monza-Brianza, with 29.078 euros and in third place the residents of Lodi, with 27.631 euros. Just off the podium we find Como: the average debt amounted to 27.501 euros. In the last places of the national ranking, however, we find families residing in the deep South, such as those of Reggio Calabria, with a debt of 10.301 euros, those of Vibo Valentia, with 9.411. Lastly, the least indebted families in Italy are located in Enna, with a “red” that stood at 9.169 euros.
How should the results that emerge at the territorial level be interpreted?
“Given that the provincial areas most exposed to debt are those that record the highest levels of income - reports the CGIA secretary Renato Mason - it is clear that even in these areas among the indebted there are many nuclei belonging to the weakest social groups. However, the strong banking exposures of these territories, especially in the face of significant investments made in recent years in the real estate sector, do not raise particular problems which, on the other hand, are found in other areas of the country, especially in the South ".
It is also useful to reflect on the most disadvantaged families:
"The higher incidence of income debt - concludes Zabeo - is found in the economically weakest families, that is to say in those at risk of social exclusion which, statistically, have returned to growing fearfully, given that the effects of the crisis have increased, even by us, the gap between the poor and the rich ".
The average debt of Italian consumer households, the CGIA Studies Office is keen to specify, is that originating from the taking out of mortgages for the purchase of a home, personal loans, loans against salary assignments, credit openings on account current (generally forms of consumer credit).
Other types of loan are also included which, as indicated by the Bank of Italy, are not specified in the statistics (for example, credit cards, loans on pledges, etc.).