All the European craziness of the Transition 5.0 plan
The Transition 5.0 plan for the digitalisation and energy efficiency of Italian companies risks foundering due to too much bureaucracy. Liturri's criticisms (La Verità)
The document for the introduction of the "Transition 5.0" plan, already approved by the Budget Commission, is being discussed in the Chamber. This is an investment between 2024 and 2025 of approximately 6.4 billion euros which, in the form of tax credits, will stimulate the digital and energy transition of Italian companies: these loans will be used for the adoption of machinery and automated systems, for example, or energy efficiency interventions.
Transition 5.0 is part of the European RePowerEU program for accelerating the energy transition at community level.
TOO MUCH BUREAUCRACY IN TRANSITION 5.0? THE CRITICISM OF LITURRI (THE TRUTH)
In La Verità Giuseppe Liturri wrote that "there is a strong suspicion that the deluge of bureaucracy requested by Brussels will constitute a very strong brake on the effective use" of the 6.4 billion of Transition 5.0. The analyst adds that after the "'burn' of the out-of-control spending of the Superbonus […] it is correct that the criterion of preventive control of spending was introduced, but there is a well-founded fear that the government has bordered on excess opposite to".
Liturri also explains that “the size of the tax credit increases as energy savings increase. The more energy you save, the greater the incentive”: this attention to energy consumption is explained by the fact that – as mentioned – Transition 5.0 is part of the RePowerEU programme.
“The declared objective,” continues Liturri, “is to achieve cumulative energy savings of 0.4 million TOE (tons of oil equivalent). And already here some doubts arise, because in 2022 the country's gross energy availability stood at 149 million TOE, compared to 156 million in 2021. Those 0.4 million expected from Transition 5.0 seem like a drop in the ocean , at the limit of statistical error. To measure this microscopic variation but, above all, to avoid unpleasant surprises on the revenue (Superbonus style) the ministerial technicians invented the Bermuda Triangle, at the top of which are GSE (energy services manager), Mimit (ministry of business and made in Italy) and the Revenue Agency".
THE CRITICISM OF CONFINDUSTRIA
The risk is that the bureaucratic complexity given by the sequence of numerous subjects and steps could lead to the blocking of many procedures. Furthermore, the limited time limit of the measure (to 2025) risks causing "bottlenecks on the supply side, due to the inability of suppliers to complete orders concentrated in a limited time frame", according to Confindustria.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/la-verita-critiche-transizione-5-0/ on Fri, 19 Apr 2024 06:46:56 +0000.