The adjustment in public accounts that the government is preparing to launch on the recommendation of the european Commission, is equal to 0.2% of Gdp. He said the minister of Economy, Pier Carlo Padoan, at question time in the Senate, in a Hall almost deserted. Defining the hypothesis of the infringement procedure, “alarming”, the minister judged that the adjustment is “indispensable”. It will not be, he reiterated, of a maneuver impromptu “but measures balanced support”. Not only. The measures will be adopted “at the latest by the end of April, presumably before” the presentation of the Def. The Eu Commission has requested Italy to a reduction of t he public deficit in structural terms this year equal to 0.2% of Gdp, amounting to 3.4 billion.
as far As the idea of a ‘bad bank’, the european, launched by the president of the Eba, Andrea Enria to solve the problem of non-performing loans plaguing the banks of the old continent and especially the Italian, Padoan spoke of the “interesting idea”, explaining that it will be checked for feasibility.
the public Accounts, corrections in the Final cuts, and excise taxes
1 bn to anti-evasion, Vat not touch
Considering the reduction in required debt structural 0.2% of Gdp will be comprised of “about a quarter by expenditure cuts that are selective for three-quarters of the measures on the revenue”, Padoan said that the government aims to achieve 1 billion euros more revenue with measures against tax evasion have already been experimented with, while “are excluded interventions on the rate of Vat and on tax concessions,” said the minister of Economy. Also excluded from “further rounds of voluntary disclosure”. The minister added during the question time that “the hypothesis of the infringement procedure is extremely alarming,” because “would lead to a reduction of sovereignty in economic policy and costs far more superior to the public finances of the Country as a result of the likely increase in interest rates”.
On the accounts of Italian now unknown in Brussels
the Eu Commission was unsatisfied
the reaction of The Eu Commission to the letter sent out yesterday evening by the Italian government to respond to the request for adjustment to two decimal places, Gdp was cold. The Commission is expected by the Italian government, “a response with the commitments detailed” to ensure a reduction of the public deficit in structural terms this year equal to 0.2% of gdp. I have indicated to Il Sole 24 Ore Radiocor sources is the Eu referring to the letter sent by the minister of the economy Pier Carlo Padoan to the Commission vice-president Valdis Dombrovskis and commissioner for economic affairs Pierre Moscovici. According to some, the contents of the letter in Italian for the commitment generic to define measures later in the spring, were a surprise to the Commission.
Correction to the deficit, to the Commission, the decisive time
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Why send the letter by the first of February
not Even this morning you are registered comments on the letter and Began to be part of the european Commission: the delivery was anything up to February 13, when will be published the new estimates of macroeconomic Eu on the basis of which the executive community bases legal decisions on procedures for violation of the rules of the budget. Speaking of estimates, the reason for the request to indicate, by the first of February, "publicly, on a number of specific commitments which are sufficiently detailed" (or so they had written to the vice-president Dombrovskis, responsible for the euro, and Moscovici, responsible for economic affairs) was linked to the need to take account of the new ‘digits’ Italian in the new forecast. As well as, to "reflect" on the assessments of the government to the ‘relevant factors’ to take into account in the judgment on the failure to reduce public debt.< /p>
Small figure, big issue
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the Absence of precise figures
In the letter of the government to the Eu Commission there are items, figures, that can be strung at the last moment in the complex series of data which are processed estimates of the macro-economic. The effort for structural reduction in the deficit will be made up to a quarter of spending cuts for the remainder of the increase in revenue. If you take for good the goal of 3.4 billion is 900 million euro in spending cuts, 100 million, coming from tax concessions. On the revenue side 2.5 billion, broken down as follows: in indirect taxation, excise duties, improvement of the contrast of evasion. The latter by its very nature is uncertain. In the case of the “split payment”, i.e. the payment of the value added tax directly to the tax authorities, without passing by the supplier of the public administration, Brussels accepted it in the past, but has not accepted as a sure measure for the scrapping of the folders collecti on.
Headlights focused on discussions Gentiloni-Juncker on Friday in Malta
Now all the lights are focused on The Valletta, Malta, where tomorrow will bring together the heads of State and government of the Eu for an informal summit devoted to the immigration, relations with the United States after the first moves of the break and attack the european Union and the euro Donald Trump, the Brexit.
Split payment extended to public companies
This is the context in which the prime minister Paolo Gentiloni, and the president of the european Commission, Jean Claude Juncker, will need to speak on both sides of the public accounts. Objective: to verify if there is a margin, and how large, for a compromise on the budget additional sought by Brussels to avoid the procedure of the Eu for violation of the rule of debt reduction. Through the letter sent by the minister Padoan that the two leaders community Dombrovskis and Moscovici, the government has indicated a general commitment to budgetary measures without any amount and without the calendar on the timing of the adoption requested by the Commission. The dissatisfaction on the upper floors of the Palace Berlaymont is evident even if no one expresses it publicly. The game is now just politics: Italy asks, in essence, the time until April, when will be the document of economy and finance.
On the accounts of Italian now unknown in Brussels
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