The DEF contains no tax increases. Padoan: “cautious but … – The Messenger

 (AGI) – There are no cuts and no tax increases in the new Document of Economics and Finance.
He circumstances, the Premier Matteo Renzi in the press conference after the Council of Ministers, which today has examined the budget bill to be sent to Brussels later this month. According to the Premier, in 2015 there will be a reduction in taxes for a total of 21 billion (18 billion lower taxes and 3 billion from the elimination of safeguard clauses). Renzi also confirmed that there will be a spending review for 10 billion, that is 0.6% of GDP, but there is also room to cut up to 20 billion in spending, without “cuts to benefits for citizens” but with a crash diet of the public machine. According to the statement issued by Palazzo Chigi, “the Government works on economic policy in a perspective no more emergency” and intends to work on a “reduction of taxes offset by expenditure savings, investment recovery, the responsible management of the state budget, structural reforms” . This will be possible thanks to a series of positive events such as reduced energy costs, the plan of the ECB QE and the containment of the spread, which add to the economic outlook more optimistic: the new forecasts for 2015 indicate growth at 0 , 7% for 2016 to 1.5% for 2017 and 1.5% for 2018 to 1.4%. According to the Minister Padoan estimates are “conservative” but may prove incorrect by default and more positive, if it wins the trust of citizens and businesses after the markets. As for the parameters of the budget, the deficit / GDP ratio will amount to 2.6% in 2015, 1.8% in 2016 and 0.8% in 2017 to reach a balanced position in 2018. Also confirmed the goal to balance the structural deficit in 2017, after a correction of 0.5% quest’0anno and 0.4% next. The debt is expected to reach 132.5% of GDP in 2015 and then decreased to 130.9% in 2016, to 127.2% in 2017 and to 123.4% in 2018. The Minister Padoan stressed that the adjustment of public accounts “is important and, at the same time, the expansive nature”, as it allows to free up resources for growth and respect the rules of the budget. As for privatization, it is confirmed the plan launched by the government but confirmation of not wanting to lose control of the state-owned companies. “We are working hard at the Post Office,” he clarified Padoan, citing the Railways and ENAV, but time is not defined and dictated by market conditions and the need to “make the best” of these assets. Privatization, the government expects to have a positive contribution to GDP between 1.7% and 1.8% “spread” between 2015 and 2018.

 April 7, 2015 18:32 – Last Updated: 19:01

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