Hearing in the Chamber of Economy Minister Gualtieri. Of course, as ministers of the past 30 years he announces his extraordinary and phenomenal program: debt relief. The funny thing is that this announcement comes exactly after stating that Italy will use the Recovery Fund and Sure loans. Thus the incredible minister first declares that he will make new debt, then, immediately afterwards, he tells us that he will cut this debt, which above all he has created. Now there are three ways to cut the debt to GDP ratio:
- Acting with inflation, as even Prodi wished, but it is impossible with the euro;
- With strong growth, a situation that seems impossible in post-covid Europe and which in any case is not facilitated by any of the measures taken by the government;
- With a sharp rise in the primary surplus, which means with a sharp rise in taxes is a sharp cut in public services, especially pensions and health care.
With his words, the minister does nothing but announce yet another, absurd, useless fiscal squeeze since 1992. May this happen with more taxes, perhaps "ecological" as is fashionable, with a cut in tax breaks, which will be called reorganization , or with a cut in public spending, which is always “Unproductive, even when the poor, the elderly and the sick pay, or with a mix of these measures, it doesn't matter.
What is certain is that Italians will not have "free meals" and that Sure and Recovery Funds will be just another stone around the neck of our already battered companies. Unfortunately having a minister of finance heterodirect and who does not serve the interests of Italians presents problems to ordinary people, but he does not act in the interest of Italians, otherwise he would not have led us into this dead end.
I can only wish you good listening, because there is nothing else good.
The article Gualtieri announces "we will reduce the debt". Tide of incoming taxes comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/gualtieri-annuncia-ridurremo-il-debito-marea-di-tase-in-arrivo/ on Wed, 16 Sep 2020 08:45:40 +0000.