For the budget, the government is committed to putting 23.5 billion on the table. This is what can be seen from the ‘Programmatic Budget Document’ that the government sent to Brussels last night. Among the planned interventions there are 2.15 billion destined for fiscal measures and 2.39 billion for healthcare.
10 billion in three years from the financial sector
A substantial part of the coverage will come from “measures borne by the financial sector”. In the document, 44 pages long, this item corresponds to 0.21% of GDP. It is just under 5 billion. The same sum that Matteo Salvini indicated a few days ago as the “voluntary contribution” to be asked from banks and insurance companies. Not a tax, but the “banks’ participation” in the country’s growth, the minister pointed out, adding that 5 billion is “an absolutely sustainable and respectful figure”.
From what can be seen from the tables, the contribution requested from the banks drops from 0.21% of GDP in 2027, to 0.13 of GDP in 2028 and 0.1% in 2029. In total, the contribution stands at around 10 billion in three years.
The other covers
“The precise definition of the interventions that will be included in the budget bill soon to be presented to Parliament”, is explained in the text, “will take into account the results of the discussions underway with the European Authorities aimed at better defining the perimeter of activation of the national safeguard clause”. We are talking about the famous 14.4 billion euros of deficit spending to be allocated to interventions on the defense and energy chapters. The idea is to ask the markets for more money, with the approval of the EU. Another part of the coverage should come from spending reviews from ministries and the gaming sector (around one billion euros).
The interventions
The Dpb constitutes in a certain sense the backbone of the budget law. Which, however, is yet to be written. The government, we read in the text, “places the protection of the purchasing power of families at the center of budget policy, with particular attention to the most fragile ones, as well as support for businesses and investments”.
The interventions intended for businesses will be aimed at strengthening the competitiveness of the production system as well as supporting electricity prices for part of consumption, the security of energy supplies through, in particular, greater contributions to investments in photovoltaic systems, for the promotion of biomethane and for the conversion of existing biogas plants. “The improvement of the spending planning capacity – is specified in the Dpb – will contribute to making the use of available resources more effective and to supporting the achievement of the objectives of the budget”.