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The economic maneuver with which the Meloni government is preparing for the launch of the finance law is still on the high seas. Economy Minister Giancarlo Giorgetti sounded the alarm: “We have to hurry.”

If the law on State expenditure, the most important in the context of ordinary administration, is not passed by December 31, then we are forced to resort to the provisional budget exercise. So a bitter failure, from a political and institutional point of view, for any government. “The commitment we have made is to convene a council of ministers on Monday” to approve the maneuver, said Giorgetti on the sidelines of the G20 in Bali. “We have to hurry,” he added.

Giancarlo Giorgetti. Photo Ansa/Chigi Filippo Attili

“We must rationalize the tax credit. We need an alert that credit transfer is not taken for granted. Except for the past, the state cannot continue to guarantee the pace of the current tax credit. We need to understand if a suitable proposal is coming from the banking system,” the minister added of the economic maneuver.

The amount of the maneuver

In fact, as far as the amount of the maneuver is concerned, there are 30 to 32 billion available, most of it intended for measures against expensive energy. On the other hand, more than one doubt remains, in the majority, on the advisability of also launching a disclosure on capital abroad. Translated: an amnesty that allows those who have transferred large sums out of Italy to evade tax, to bring them back, in exchange for a substantial tax reduction.

Giorgia Meloni and Xi Jinping at the G20. Photo Ansa/Chigi Filippo Attili

Back from the G20 in Bali, Prime Minister Giorgia Meloni and Economy Minister Giancarlo Giorgetti therefore immersed themselves in defining the first maneuver of the new government. Decidedly delicate passage: there is little time, little money and the green light from the European Commission is needed.

The themes of the maneuver

If, it seems, the green light arrives from the Council of Ministers on Monday, November 21, the race for the approval of the amendments in Parliament will begin. At the end of the week, the text of the maneuver should arrive in the budget committee in the hemicycle and, for the moment, the arrival in the hemicycle is scheduled for December 20 at the earliest. Inevitably, the move to the Senate will only be technical, to be completed before Christmas or just after. A summit between Prime Minister Meloni and the leaders of the majority groups is scheduled for today November 18 at the Palazzo Chigi. Forza Italia will reiterate the criticisms of the management of the real estate superbonus changes in the Aiuti quater decree-law: “It was not necessary to advance the deadline for Cila to November 25”, they say from FI. Nor “the resolution of the condominium works to access 110%, before shifting it to 90%”.

Bills were symbolically burned during the ‘Insorgiamo’ demonstration, which saw antagonistic movements march through Naples, representatives of environmentalism such as Friday for Future and acronyms such as ‘We don’t pay’ which oppose expensive bills. Photo Ansa/Ciro Fusco

The tax shield

In these hours, reflections are underway on the possibility of re-proposing a shield for self-declaration and the return from abroad of capital hidden from the tax authorities. A solution similar to that put in place by the Renzi government, which in 2015 made it possible to recover around 2.5 billion euros. The effect of a new disclosure is estimated at 3-5 billion, which would reinforce the figure of 30-32 billion that emerged during the last hours of meetings on the maneuver. Of this figure, 21 billion are in deficit, intended to help families and businesses in crisis due to expensive energy.

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