Saturday, October 5, 2024

PSB, cash only. Even Confindustria

Date:

In the face of the text already set without comparison and unamendable, the hearings on the structural budget plan are meaningless.

However, the opinions of all social parties are highly critical, without any distinction. The structural budget plan “will cause a long cycle of austerity in our country, measurable at about $13 billion in cuts for each of the next seven years,” says CGIL Confederation Secretary Christian Ferrari, now elevated to second in the CNT, in the chamber to committees. Joint budget. “The contents of the structural budget plan – he says – are the result of a very careful political choice made by Palazzo Chigi and the Ministry of Finance who had a crossroads in front of them: cut spending or go and get the resources where they are, activating the redistribution tax lever on profits, additional profits, large wealth and income and the fight against… Tax evasion, real tax progressivity and justice. The first path has been chosen: selective austerity imposed on workers and pensioners who, having suffered brutal poverty due to inflation, will continue to be subjected to cuts in a social welfare system that is increasingly poorer than others Every possible tool continues to be designed to allow them to avoid paying what they owe to the tax authorities.

Confindustria is also crucial, albeit with some differences. “The growth planned by the government is the highest among the forecasts of major international forecasters. Rapid implementation of Pnrr can play a central role in supporting this growth. In the biennium 2025-2026, the government’s attention should focus on completing its implementation – said Confindustria Vice President Angelo Camilli. “According to the latest Regis data, collected on October 1, only 9 billion of the 44 expected in 2024 have been spent so far – 20% of the total; While $58 and $48 billion will have to be spent, respectively, in 2025 and 2026. It therefore seems clear that maximum attention is needed from all levels of government for the rapid implementation of the plan. Without implementing this, it will be impossible to achieve the growth rates indicated by the government. In the subsequent period, that is, after 2026, it will be necessary to give continuity to some interventions capable of increasing the country’s potential growth, in particular those related to investments.

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Even the new industrial union founded by Emanuele Orsini came to realize that austerity could be harmful. “According to a simulation conducted by our think tank, if all countries applying excessive deficit measures – including Italy – made the minimum adjustment required by the rules, there would be a negative impact on euro area growth equally. to 0.3% at a time when the region is already below its potential growth. These effects can be mitigated if a mechanism is provided that integrates national budgetary policies in order to ensure that the European fiscal stance is appropriate to the European economic context: when the European economy enters a recession, it will be important to have an expansionary fiscal stance. .

Even ANCE – construction companies – is sounding the alarm about the risk of consolidation of accounts translating into a reduction in investment spending.

Uil promises it will monitor pensions. CISL proposes taxing large financial incomes to recover resources.

Finally, in the meantime, pressure is coming from accountants to extend the agreement: otherwise – they warn – “there is a risk of failure.” A postponement which, at the present time, is not under consideration.

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