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Giorgia Meloni - Photo by Ansa FotoGiorgia Meloni – Photo by Ansa Foto

This afternoon, Monday, November 21, the Council of Ministers will approve the new economic manoeuvre: a finance law that goes to 32 billion, two thirds of which will be earmarked for the energy emergency. After the CDM, the bill will be examined by the budget committee of the Chamber, to then arrive in the hemicycle around December 20. After that, a move to the Senate is expected before Christmas or soon after.

The fixed points are the reduction of the tax wedge to three points for low incomes, the overrun of the Fornero law and a first compression of citizens’ incomes. Let’s see the news point by point.

Alternative measures to the tax shield

We are moving towards stopping the tax shield for capital returns from abroad. The majority have started a reflection on alternative tools to bring out undeclared capital.

Family and birth rate

The maneuver could contain a doubling of 100 to 200 euros in the flat-rate increase in the single universal allowance for families with four or more children and 100 euros more for families with twin children, up to three years old. The proposals were made by the Ministry of the Family and the premium should start from 2023.

Minister Eugenia Roccella has proposed setting up a fund of 68 million dedicated to summer camps for children, from 2023.

Among the interventions is increasing the endowment of the anti-trafficking measures fund by approximately 2 million more for 2023 and 7 more for 2024.

Among other regulations, there is the reallocation of unspent resources for certification of gender equality and the refinancing of anti-violence centers and shelters with 10 million more from next year.

Tax and cash ceiling

The maneuver would confirm the 2-point drop in the tax wedge introduced by the Draghi government, at a cost of 3.5 billion. The provision will also contain the tax holiday package.

The hypothesis of an incremental flat tax for employees remains ruled out, in favor of an intervention to make the rates of production bonuses more advantageous. The flat tax will be extended to 15% for the self-employed and VAT numbers whose income does not exceed 85,000 euros.

The objective is also to abolish invoices up to a thousand euros for the years up to 2015 and very low penalties, at 5% and halved for invoices between one thousand and 5 thousand euros.

The maneuver should also contain the increase to 5 thousand euros of the cash ceiling, which had been removed by the Dl Aiuti Quater, because it is not urgent.

A reduction or zeroing for one year of VAT on bread, pasta and milk and a reduced VAT of 5% on products for the intimate hygiene of children and women, i.e. sanitary napkins are also contemplated.

Among the hypotheses there would be a tax on home deliveries to promote local commerce.

pensions

As far as pensions are concerned, we are moving towards Quota 103, which allows retirement at age 62 and 41 years of contributions. The maneuver should also contain the extension of the social bee and the female option.

Made in Italy

100 million for 2023 could be allocated to support measures for the enhancement and protection of Made in Italy.

The TV and decoder bonus, which provides for an endowment of 100 million, could be refinanced for an additional year. The refinancing relates to two existing contributions: one for the purchase of a television with the scrapping of a non-compliant device, with the payment of a single contribution per family, equal to 20% of the expenditure in the limit of 100 euros. The other concerns the purchase of televisions without disposal or decoders, with a contribution for families with Isee of up to 20 thousand euros.

Another contribution of one million could be used to strengthen aid for small breweries that produce craft beer and three million euros from 2023 to 2025 for a fund for media and digital education and the protection of minors in digital media.

The proposals were put forward by the Ministry of Industry and Made in Italy.

Dear-energy

The maneuver provides a measure for citizens brought to their knees by the Covid crisis and the energy crisis resulting from the war in Ukraine. We are moving towards the deposit of taxes declared but not paid for three years.

The magnitude of the maneuver remains around 30-32 billion. Of these, 21 will go to measures against high energy prices until the end of March.

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