ROME, February 29, 2016 – THE WIND has changed, even by the parties in Brussels. And Renzi has decided to seize the moment, pushing the accelerator on tax cuts. Already in the year-end press conference the prime minister had implied to have in mind something more than IRES cut in 2017. But he had not pulled the rabbit out of the cylinder “so as not to upset Padoan”. The rabbits in reality would be more than one: there is the possibility to anticipate the Irpef cut in 2017 but also that of reducing the contributions on the job. Idea, this, launched by Secretary Thomas Nannicini and that could be picked up by the Prime Minister’s office drawers. “It would – explains who has followed the dossier – to translate the temporary bonus for new employees in a permanent cut in tax-contribution wedge in payroll, to be divided between employee and employer.” Cost: 2.1 billion every point cut. As for the income tax, the aim is to work on the tax rate jumped from 27% (up to 28 thousand euro) to 38% (from 28 thousand to 55 thousand) that penalizes the middle class.
TWO ASSUMPTIONS also endorsed by the Deputy Minister of Economy, Enrico Morando, which does not exclude “the early 2017 of initiatives planned for 2018″. Then, he explains, “you sull’Irpef intervene directly or indirectly by reducing the social security burden fiscalizzando charges, we will see when we will be able to concretely envisage the intervention.” “The signals that emerged from the meeting with Juncker are encouraging – says one of the premier advisers – but then you have to see the numbers.” With less robust growth than expected, 18 billion of safeguard clauses to be deleted and the intervention sull’Ires already scheduled, additional room for maneuver can only come from the EU flexibility. The amount will depend on the outcome of the negotiations that the Minister of the Treasury is conducting with the commissioner Pierre Moscovici.
A price of a small correction this year (2-3 billion) for 2017 is no longer taboo to ask other flexibility. The Government, in Document of Economics and Finance, has set the deficit / GDP ratio in 2017 to 1.1% and the Commission signaled that it is prepared to grant one more 0.2-0.5%. Renzi would take around 2%, using about 15 billion flexibility to cut taxes: the tax package in 2017 would rise to 30 billion. Ideas that have blown up many in the chair. Like the other Deputy Minister of the Treasury: “Anticipating the income tax cut in 2017? Maybe, but I would urge not to repeat the resounding mistake made with the IRES – warns Enrico Zanetti -. The attempted anticipation to 2016 did perceive the cut in 2017 as a half back off while it is a big step forward. ” And, in 2018, raises the “flat tax the middle class”, ie personal income tax rate of only between 30 and 60 thousand euro.
ALL agree on the need to cut taxes, a little ‘less of its time. there is who pulls the brake also in the entourage of Renzi: “Let’s wait to figure out how much space we have exactly deficito”. The thaw with Brussels has just iniaziato and “there are still too many moonlight.” Renzi is testing the waters to see if there is space, even political, to accelerate. But the direction is. “The fees will drop,” he repeats to her.
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