The maneuver is armored but not completely, last call for amendments

The deadline for filing the documents expires this afternoon at 4pm amendments to the maneuver in the Budget Committee of the House. The government has substantially armored the central structure of the text, the space for modifications appears limited. The majority parties, however, should present some possible corrective measures, in particular regarding MEF officials in the audit bodies of companies that receive state contributions of at least 100 thousand euros, taxation of extra profits from cryptocurrencies (the text provides for the rate to 26 to 42%), blocking the turnover of the PA excluding the security sector.
The Minister of Economy himself, Giancarlo Giorgettiduring the hearing in the Commission, opened up to some possible changes during the parliamentary process, but established some precise limits: the maintenance of the principle that those who receive public funds use them sparingly; higher taxation on speculative investments.

Confindustria’s criticisms

The maneuver received numerous notes during the four days of hearingsstarting from the findings formulated by Confindustria which claimed “does not provide adequate responses to the problems and risks of the country”. The government, however, sticks to the approach given to the text: interventions in favor of medium-low incomes with the cut of the tax wedge for incomes up to 40 thousand euros and the reduction of the Irpef to 3 rates. And then some measures to support the birth rate.

The text is the result of the spending constraints imposed by the new rules of the Stability Pact, the government in the PSB has undertaken to exit the EU infringement procedure. The opposition, on the other hand, speaks of an “inadmissible and full of cuts” to services, where “the only item that grows is defense spending”. Svimez, however, in the memorandum filed with the Commission, points out that “overall, in the three-year period 2025-2027, the resources allocated to specific measures for the South should therefore be reduced by 5.3 billion euros”. The document notes fewer resources of 1.7 billion for 2025, 2.9 billion for 2026 and 625 million for 2027.

Round table with the unions

Meanwhile this morning the government will meet the unions on the budget law, a summit that comes after a week of controversy over the words of the leader of the CGIL Maurizio Landini who now spoke of the “social revolt”, with the centre-right majority who recognized possible extremes for a crime. CGIL and UIL have proclaimed a general strike for November 29th in the absence of changes to the budget law, a judgment not shared by the CISL which identifies points of merit in the document.

On the presence of an MEF auditor in companies that receive public contributions – on which the ABI notes “possible profiles of unconstitutionality” – a compromise could see an increase in the minimum threshold above 100 thousand euros. Forza Italia could include amendments on minimum pensions and the web tax. On the first measure the objective would be to reach at least 620 euros – the text changes them from 614 to 617 – on the second measure that of reintroducing the revenue threshold to 750 thousand euros), in order to tax the giants of the web and not small companies. The League, however, among the various texts, should present a proposal to eliminate the cap on deductions from start-up investments.

In the majority it still holds sway dispute over amendments to the Tax Legislative Decreewhich runs in parallel with the maneuver in the Senate. The League has presented an amendment to ask for the reduction of the Rai license fee from 90 to 70 euros to be extended to 2025, a measure that does not find favor with Forza Italia which has spoken of a measure that is not part of the program. The calendar of work in the Budget Commission provides for the deadline for eligibility to be Friday 15 November, then the deadline for reported amendments will arrive on Monday 18.