Here is the Budget Law according to Draghi and Franco
What Prime Minister Mario Draghi and Economy Minister Daniele Franco said in the press conference after the Council of Ministers that approved the Budget Law
“This is an expansive law, which accompanies the recovery and is fully consistent with the other documents that guide the economic action of this government. We act both on demand but also a lot on supply: we cut taxes, we stimulate investments ”, said Prime Minister Mario Draghi during the presentation of the budget law during the press conference after the council of ministers. "The problem of public debt, that of inadequate social benefits and other just changes to our social system that we have not been able to make in the past years can be overcome through growth: the country will grow well over 6% and this is a compass and the strategy of this government ”.
THE FULL TEXT OF THE BUDGET LAW
“We must maintain this growth also in the years to come, these quarters have been remarkable and the fourth promises to be positive. Increasing attention is being paid to the quality of this growth and this is a novelty, it is a change in the thinking of those who do economics in Europe ”. Prime Minister Mario Draghi said this at a press conference.
"Italy is growing a lot now, but this Budget Law does not ensure that this growth will continue in the future but lays the foundations for it to continue at a higher level and is also more equitable".
“We put 12 billion on taxes to reduce the tax burden and not eight as they say. 8 billion go to a targeted intervention to reduce taxes on companies, people, on the tax wedge and there are various hypotheses of use of these 8 billion that we will define with Parliament ”.
THE FULL TEXT OF THE BUDGET LAW
"We allocate 40 billion over a three-year period to the reduction of taxes, of which 24 to the wedge and the remainder to tax incentives, to families and businesses for real estate and digitization".
On pensions, "the goal is a full return to the contributory system, with a transition to Quota 102 (38 years of contributions and 64 years of age)". Prime Minister Draghi said this at a press conference, explaining that the government has taken the Woman Option, the Social Ape, “expanding the range of subjects who can use it. The government – he added – is willing to discuss with the social partners "and with Parliament" because the goal – he reiterated – is the full return to contributory which is the "box" in which many things can be adjusted ", such as for example “to recover at work those who have left and find themselves in black”.
“I don't expect a general strike, it would seem strange to me. There is the government's willingness to reason ”, said the prime minister, underlining how the“ decision is up to the unions ”.
"The budget law is consistent with the Recovery and Resilience Plan, we accelerate the funds strongly" and among the projects one of the "most important ideas is to have a standard format for the construction of schools designed by great architects and that the municipalities they will be able to use: the time to build a school could be reduced, ”the premier said.
THE FULL TEXT OF THE BUDGET LAW
“No, the government has not yet decided the weights of the various measures, there will be a confrontation with the social partners and an dialogue with Parliament. This is the first concrete act of tax reduction but the delegated decrees are not yet written and therefore we must take into account the dialogue with the Parliament ”, explained Draghi.
The government allocates 8 billion euros to the reduction of taxes, but for now "defines the purposes of the IRPEF and IRAP cut", while "in the coming weeks we will listen to the social partners and we will propose a government amendment to the maneuver that defines the method of use of the 8 billion ": the Minister of Economy Daniele Franco said, specifying that it is only" the start of the reform process of the Italian tax system ".
THE FULL TEXT OF THE BUDGET LAW
“It is a large-scale maneuver, around 30 billion for three years”: Economy Minister Daniele Franco said. As regards the composition of the tax cut, the minister indicated "about 12 billion in the first year, 40 in the three-year period", with the first component being "an intervention on personal income tax and Irap of 8 billion a year".
THE FULL TEXT OF THE BUDGET LAW
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/ecco-la-legge-di-bilancio-secondo-draghi-e-franco/ on Thu, 28 Oct 2021 19:12:29 +0000.