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Maneuver, between promises to keep and empty coffers. Melons at the crossroads
The government Melons is struggling with the financial maneuver and the bill continues to rise, considering the cut to the tax wedge and the reduced Irpef it has already reached 14 billion, money that still needs to be found. The prime minister has announced her intention to confirm the wedge cut contributory for the whole of 2024. And “even a little more”, he added. Where that more could be a first piece of tax reform imagined by the Deputy Minister of Economy Maurizio Leo. Reduce that is – we read in Repubblica – the rates Irpef from four to three, eliminating the 25% bracket and expanding that by 23% up to 28 thousand euros of income. The move is also designed to mitigate at least part of the burden of taxes which eat up a piece of that cut in the wedge benefiting 13.8 million workers private and public employees. The double intervention, however, would cost quite a bit, approximately 14 billion. And it should see the light in the next budget lawcoverage permitting.
In the meantime though The attacks on Meloni continue from the economic-financial world. For the Financial Times the honeymoon between the Italian prime minister and investors is over. In an analysis the British newspaper asks whether Meloni will keep his fiscal discipline commitments or “will be tempted by one expansionary fiscal policy the da other unorthodox measures“. In this context of hostility mainly due to the tax on extra profits on banks, the government must try to make ends meet and not disappoint the many promises made to Italians in election campaign.
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Melons – continues Repubblica – he says he wants to reduce the tax burden on the cut of the wedge, but in reality he fails to mention that, by drying the tax brackets of the Irpefil benefit from approximately 2.8 billion it would fall on a much larger number of taxpayers than the workers who benefit from the tax exemption but who pay 4 billion in taxes. A three card game to say that you have done two operations in one. The alternative on the other hand would be even simpler, but very expensive on paper: putting a figure higher than the 15 billion gross on the wedge. The Treasury’s goal is to give up to 100 euros net to employees. “It will be a complicated operation”, they admit to the Mef.
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