Economy
Milan , February 6, 2016 – 19:08
For a day he returned to the chair. At the school of the Democratic Party political party, before an audience of young people, many of whom already advisors or councilors in local authorities. But Professor Pier Carlo Padoan has not forgotten that the economy minister. Inevitably, therefore, the claim of the results obtained in two years of government. In a country, he stressed Padoan, who came from years of recession and structural decline. A country that, in 2015, begins to grow, albeit at rates significantly lower than the European average. However, according to the minister, the success of a policy is measured on another front. ‘Europe say: how do you assess the quality of an economy? I have no doubt, on the ability to create jobs. And on that Europe he has not done enough. ” And so it is important, for example, that in 2016 for the first time in many years the national debt will eventually start to fall, but this result, said Padoan, that is because it allows you to retrieve resources for growth and jobs. And on those fronts the data are improving.
In the maxi EU aid to banks
The Minister, to support his thesis, showed 21 slide. Some very eloquent. Like when he addressed the hot topic of the banks. In Italy, he said, the production system “is based almost exclusively on credit. So it is normal that after 3-4 years of recession the suffering (the credits are difficult to collect, ed. ) are increased. But I say that a system such as ours, which has resisted all this without banking crises and without state aid that we were anywhere else, it is a very robust system. ” And here he showed a chart of state aids that governments have given to the banks until 2014. In first place is Germany, with almost 240 billion euro, followed by the UK (162.5), Spain (52 , 4), Ireland (41.8), Greece (39.8) and so on. Italy closes the standings with just one billion euro. Although it could easily argue that for this growing concern on the premises of the Italian banks, now that these aids are no longer authorized from Brussels. But Padoan has ensured that the system is strong and that “the government will take next week other measures to strengthen it.” The reference is to the measures on the credit cooperative reform, on bankruptcy proceedings and reimbursement for bondholders of failed banks.
There will be other tax cuts
what to shelter the financial system is the first thing to do to overcome the crisis we teach the United States , the minister explained. There, they did so only after you have dealt with fiscal adjustment. “In Europe we have done the opposite,” giving priority to the austerity policies. “But so we lost time and now we are trying to recover.” In fact, just the slide of Padoan on aid to banks would seem to show that other countries have not neglected to rescue the financial system. It must, he concluded Padoan, “refocusing European policies towards job creation, giving more fiscal space (ie more flexible budget, ed. ) to those who have little and asking who has the use it, and Italy uses it all, “he stressed, so claiming the extra point deficit with which the government has covered the law of stability while other countries, such as Germany, do not do enough to boost demand. In Italy, however, he assured Padoan, the government will insist on ” crucial element of our economic policy: tax cuts “to encourage consumption and investment. In 2017 it’s up to IRES, corporate tax: the tax rate will drop from 27.5% to 24%. In 2018, personal income tax. Brussels permitting.
© ALL RIGHTS RESERVED
6 February 2016 (edited February 6, 2016 | 19:45)
© ALL RIGHTS RESERVED
No comments:
Post a Comment