Rinaldi votes against the Commission’s proposal to revise the Stability Pact: he doesn’t want 18 billion in higher taxes per year
We are voting in the European Parliament, in the Econ Commission, on the proposal to reform the European stability pact, and things are not taking a good turn, as the terrible combination of forced austerity and arbitrary judgments by the Commission remains, a kind addition of the latest reform proposal made by the commission.
The Commission's proposal, inspired by Berlin and supported by Gentiloni, would like to reduce public debt by 1% of GDP per year, i.e. 18 billion in more taxes and/or less spending per year. This is what is being discussed, in an extremely complex and almost incomprehensible way: forced budget cuts, which translate into very simple things, that is, fewer public services, more taxes, less widespread wealth and more poverty. These are apparently just numbers, but they are numbers that brutally affect the lives of every single citizen, exactly as they have done over the last thirty years, leading us to ever deeper poverty.
The proposal is terrible, and is starting to gather opposition, such as that of Antonio Maria Rinaldi : " The League, perfectly aligned with the positions of the centre-right of the Government, has convincingly voted no to the proposal to reform the Stability Pact in its first passage in Econ commission in the European Parliament; The absence of the Democratic Party in the chamber during the vote is surprising. The reform proposal is completely ignored, with a provision that is wrong in method and substance, for which even a proposal for debate in the chamber was denied. Maybe someone is interested in not discussing it in detail?
We reject an approach that would still see us hostage to a Germany at a time when, by being the first to renounce respecting its own rules, it cannot dictate the law either politically, economically or morally ." “ And we were stunned by the statements of Gentiloni who claimed that this new version of the Pact would set aside austerity: a simple abacus would be enough to understand that the average 1% annual reduction on the public debt/GDP ratio, for Italy, it would mean that in the event of an economic slowdown there would be tens of billions per year in new taxes and spending cuts. We cannot agree with a text that does not take into account the real needs of countries and proposes an economic model that has not worked, centered on austerity, anchored to the constraints of the treaties and parameters conceived more than thirty years ago, which have proven to be unsuitable to generate growth in Europe”
We will see in the chamber who will take the responsibility of supporting this very tough agreement.
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The article Rinaldi votes against the Commission's proposal to revise the Stability Pact: he doesn't want 18 billion in higher taxes per year comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/rinaldi-vota-contro-la-proposta-di-revisione-del-patto-di-stabilita-della-commissione-non-vuole-18-miliardi-di-maggiori-tasse-allanno/ on Tue, 12 Dec 2023 06:15:25 +0000.