Giorgia Meloni Matteo Salvini
Budget law, here’s how much the government can spend
The blanket is not short, it is skimpy. According to the latest rumors, 60 billion euros would be needed to meet all the needs of the Budget Law that the government must start building. Only that with a deficit already approved with Bruxelles al 3.7% margins are tight. To be clear, the projected overall deficit – should the growth of the1% of GDP – would be just over 71 billion euros. And one certainly cannot think of taking almost all of them and putting them in the new Budget Law. The Minister of Economy Giancarlo Giorgetti has already said that thinking about the Superbonus (which drains resources) feels a full-bodied “stomach ache”.
But we have to decide what to do, and quickly. From the taxation on the extra profits of the banks the government has budgeted to obtain 3.5 billion euros. Really? Always the well-informed Montecitorio say that you should toast with a bottle of the good one if you manage to tick the half once the measure is brought to Parliament for scrutiny. Also because the banks, as Stefano Righi points out in today’s Corriere, have indeed increased profits thanks to interest (direct cause of the increase in ECB interest rates), but they lost fees from asset management.
Now what’s up? The battle is just beginning. From Cernobbio, the entrepreneurs are asking for courage from a government that at the moment is out of arms. The management of the Pnrr (agreed by the previous executive, as it should be remembered) is increasingly tiring and the risk that a large part of the funds will not be used is becoming more and more concrete. But if that were to happen, what would the relationship be like with Europe? We can bet that it would become, if possible, even more turbulent. And the return of budgetary discipline in 2024 forces us to deal with “the servant” to avoid any fundamental problems.
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