(by Massimiliano D'Elia) Last night in a "lightning" speech the prime minister, Giuseppe Conteat the end of the European Council meeting announced:Italy is in the front row to ask for the Recovery Fund. Such an instrument was unthinkable so far and will make the European response more solid and coordinated".
As everyone now knows the Recovery Fund it is a new tool that will have to be linked to the EU budget 2021-27 and for which it is not known where to take the resources to fill it, it takes about at least one thousand billion. In the meantime, Italy's placet was given to the use of the Mes (European Stability Mechanism). In the April decree law, the government announced that it will insert 55 billion euros necessary to start phase 2 and to encourage, as far as possible, the recovery of small and medium-sized enterprises. But these days we also talk about Def. The macroeconomic picture of the next Def (Economic and Financial Document) starts to rise due to a GDP which, according to IMF estimates, will reach a resounding -2021 percent in 9,7 and the fact that the Government will have to borrow for at least 10 percent, causing the deficit to rise to around 160 percent.
In the first half of the year, GDP should be recorded at -15 percent and then in the second half of the year, with the epidemic under control, at -4,7%, thanks also to the definitive elimination of the safeguard clauses on the VAT due to the suspension of the rules of the Stability Pact. Suspension valid for the whole year 2021.
However, to close the economic framework of the Def it is necessary to find a general agreement on the interventions of the April decree in the sectors of health, shock absorbers, aid to businesses and families. As expected, there are divergences between the various political parties.
The M5S pushes for maximum on the front emergency income, to be added to the citizenship income for the weaker sections of the population. The Democratic Party maintains that this way there is a risk of overlapping with other tools, from compensation for those who have atypical or occasional work to the new incoming aid for domestic workers and carers.
The 5Stelle are pushing for this temporary check of around 500 euros, as the Deputy Minister of Economy Laura Castelli reiterates, denying tensions with the Minister Roberto Gualtieri.
The minister of IV of the Family is also stirring the minds, Elena Bonetti who also wants to include child allowance in the list, regardless of family income.
As Ansa writes, the minister announces a battle: if there were no resources, according to some, it is not excluded that the minister of IV could threaten her resignation. However, the summary will be left to a meeting of Prime Minister Giuseppe Conte and Gualtieri with the heads of delegation before the Council of Ministers, which has already been postponed several times.
Therefore, the postponement of sugar and plastic tax (cost around 200 million) should be expected, which should therefore start not from July but from next year. Breath of oxygen for companies that should also be quickly unlocked by the old PA credits still unpaid for 12 billion. Another 10 billion will come instead in the form of direct refreshments for 8 billion for the smaller businesses, with less than 10 employees, and with another 2 billion of aid for rents and bills. Healthcare and civil protection should go another 4-5 billion while the most substantial package will be that of support for work and income: there will be the refinancing of CIG and cash in derogation for another 9 weeks with 13 billion, 7 billion will go to the increase from 600 to 800 euros of the indemnity for the self-employed, which will be paid for another two months (April and May), half a billion will be used for the extension of special leave and the babysitter bonus for families with children still home from school while approximately 1,3 billion will go towards strengthening Naspi and subsidizing domestic workers and carers. Finally, 1 billion will be used for emergency income.