the “price” will weigh on households and businesses. Here is what risks slipping – Corriere.it

the “price” will weigh on households and businesses. Here is what risks slipping – Corriere.it
the “price” will weigh on households and businesses. Here is what risks slipping – Corriere.it
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A race against time in which not everyone is on the same side amidst accusations of institutional obstruction and presumed electoral gains. A deadline behind the other and a bond, that of Friday 16 September, in which the government hopes to pass a new bill of 12-13 billion to alleviate the cost of gas to which electricity prices are linked. In August, even the 600 euros per megawatt hour and without immediate aid, the cost of the bill, which the companies that supply energy will send to their customers between September and October, risks causing prolonged shutdowns in factories and closing thousands of cash-strapped businesses. Yet before launching the maxi-intervention to support the economy need a double favorable vote of the House and Senate to the programmatic report on the budget balances that the Treasury Minister, Daniele Francotransmitted last Thursday to Parliament for institutional transparency.

In the calendar of parliamentary work it would not have been assigned to the programmatic budget report, necessary for the approval of the new decree, the preferential path it deserves. Nobody in Palazzo Chigi hides the apprehension for the days that pass, despite having done everything to speed up the process. The vote in the House scheduled for Tuesday and the Senate scheduled for Thursday arrives too close to the Council of Ministers imagined to approve support measures. Also close to the an institutional trip to the United States that Draghi has planned from Saturday 17.

The decree in gestation then overlaps the parliamentary conversion of the Aid-bis decree, hostage of the quarrels between parties concerning the Superbonus. With the Five Stars who believe it can be improved for the part relating to the assignment of loans to banks and on which, they say, 30,000 companies risk bankruptcy who have exposed themselves with the institutes finding themselves in advance of the payment of the materials. But the constraints on the superbonus are one of the cornerstones of the executive, especially because it is about an incentive that is inflating the cost to the state out of all proportion. So much so that the government has also made it explicit in the report, which Minister Franco records as the fiscal space that it intends to allocate to cover measures to further support families and businesses would have been even more robust if there had not been a trend in expenditure on building bonuses that was significantly higher than the estimates. Expenditure that appears to have already exceeded 1.3 billion (only in 2022) the forecasts, with a burden on the public budget.

The dynamics of tax revenues in July and August fortunately returns a better than expected slide. But a small consolation. Because the maxi-inflation of these months drags the VAT revenue, as historically happens in the periods in which prices take off upwards. The additional hedges, the Treasury wrote, amounted to 6.2 billion. Just under half of the resources to be deployed. Without budget variances, Draghi claimed, while the leader of the League, Matteo Salvini, invites us to dismantle this thesis by putting 30 billion on the table. The extra profits on energy companies would only come about 900 million revenue from the second installment at the end of August, which would be added to 1.3 billion on June.

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So they risk rdelay the interventions promised by the government with the invitation of the parties to let parliamentarians return to vote in the middle of the electoral campaign. First of all, the strengthening of the tax credit also to non-energy-intensive companies, under 16.5 kilowatt hours of consumption. The trap for supermarkets, bars, restaurants and shops that push to see each other at least 50% of the energy account returned to the tax drawer. But also the social bonus for bills currently confined to those with an ISEE of up to 12 thousand euros. Up to installment payments for the last quarter of the year which forces the government to advance the electricity supply chain more than 1 billion per quarter. Not to mention, one of the Confindustria requeststhe hypothesis that the state dresses up as guarantor of last resort with banks for loans to businesses struggling with the costs of bills. Measures hanging from the electoral campaign of the parties while the country is experiencing the biggest energy crisis since the 1970s.

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The article is in Italian

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