What the Recovery Fund Guidelines provide. Here is the government document
Less taxes on the middle classes and families, aiming at doubling growth to a level in line with the EU average of 1.6%, with more jobs and more investments.
These are some of the objectives included in the 38 pages of guidelines on the Recovery Plan that the government has sent to the Chambers, saying it is ready to report on them. Six missions, from equity to green, but also digitalization, education, health, infrastructure. The ok to projects to be financed based on the impact on GDP and costs. And then review the motorway concessions.
"The fiscal choices must support industrial policy in the reconversion process following the health crisis and accompany change in a sustainable sense, facilitating production in those sectors where the epidemiological emergency has highlighted a production shortage in the face of an obvious need for national procurement. The epidemiological crisis has given a strong acceleration to the digitization processes and made the need to respond to the fiscal challenges posed by the digitalization of the economy even more compelling. In this perspective, the negotiations that are continuing in the OECD on the reform of the taxation of multinationals, including digital ones, take on even greater importance. The goal set at the G20 is the signing, by the end of the year, of a political agreement on the partial modification of the international allocation criteria of the corporate tax base to reduce the possibility of profit shifting of multinationals and on the introduction of a minimum level of taxation effective for the same companies ".
“ Infrastructures for mobility require investments and greater efficiency of the authorization processes. Investments are necessary above all to improve the intermodality between the different systems and the different transport networks, also with a view to greater resilience and environmental sustainability, as well as to ensure the achievement of essential levels of performance. The Government intends to focus, in the first place, on the high-speed AV-AC rail network for passengers and freight with the completion of the TEN-T corridors. Other interventions will concern the road and motorway network with particular attention to bridges and viaducts. Information technologies will be introduced with the formation of Smart Districts. Finally, some interventions will be aimed at promoting integrated logistic intermodality for goods, mobility in support of slow and sustainable tourism, with specific reference to tourist railways ". ù
“To foster the competitiveness of the production system, it is necessary to“ support the growth of SMEs, the true driving force of the Italian system, strengthening the ability of Italian companies to compete on international markets and to cope with economic crises. It will be essential to promote merger and capitalization processes of micro and small enterprises, also by stimulating the creation of networks that can facilitate the dissemination of knowledge and technologies. It will be important to strengthen financial instruments to support and improve the competitiveness of companies on international markets. Our SME system can survive international competition only if inserted in a supply chain structure in which the lead company is strong and of a size compatible with the need to invest heavily in R&D, pay adequate wages to attract qualified workforce, invest in Marketing and financial services. These chain reinforcements must also be achieved through vertical integrations of the groups ".
The National Recovery and Resilience Plan "will have to be accompanied by budget planning aimed at rebalancing public finances in the medium term, after the strong expansion of the deficit expected for this year as a result of the pandemic and the significant interventions to support the economy were implemented with three successive decree-laws. The Government will detail the path of recovery of the deficit for the years 2021-2023 in the Update Note of the forthcoming Def. The programmatic scenario will include the forecast of the use of the loans envisaged ”by Europe.
This is what we read in the guidelines of the Plan, which explain how the use of European resources in the form of loans will contribute to increasing deficits and debt, as explained by the Minister of Economy Roberto Gualtieri yesterday. And the day before it was the analyst Giuseppe Liturri who explored the topic in Start Magazine .
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/linee-guida-recovery-fund-il-documento-integrale-del-governo/ on Wed, 16 Sep 2020 14:20:23 +0000.