In 2023, current taxes paid by Italian families increased by 24.6 billion euros (+10.7% compared to 2022) due to the growth of Irpef (+10.2%) and withholdings on capital income and on managed savings (+23.0%).
Istat communicates this. “The balance of redistributive interventions in 2023 – writes the statistical institute – took 118.8 billion euros away from families”, 16.5 more than in 2022. For businesses, taxes on production mark an increase of 2, 2 billion euros (+7.5%).
In 2023 Italian savings will be at an all-time low
In 2023, families’ disposable income increased by 4.7%, but adjusted for inflation, their purchasing power decreased by 0.5%. Final consumption expenditure grows by 6.5% and families’ propensity to save falls to 6.3%, from 7.8% in 2022, reaching the minimum since 1995, the beginning of the accounts reference period.
This was announced by Istat in the publication ‘National economic accounts by institutional sector’. The household investment rate rises to 9.0% (from 9.2% in 2022). The profit rate of companies falls to 44.8% (from 45.4% in 2022), despite the growth in added value of 6.2%.
In 2023, 55.2 billion in aid to businesses
In 2023, Italian companies “continued to benefit from important measures to support production activity, receiving 23.8 billion euros in
contributions to production (-12.1% compared to 2022) and 31.4 billion euros of contributions to investments, of which a significant component is related to the Transition 4.0 Plan.
Istat writes this in a statement on national accounts by sector. The total aid – provided by Italy but also by the European institutions – is 55.2 billion.
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