The Italian government on Monday evening passed a package of measures worth 14 billion euros to cushion the negative impact of inflation and high energy prices on businesses and families. The measures are to be financed thanks to the extension of taxes on extra profits by large energy companies, which will thus pay part of the new support measures introduced by the government.
Local public transport companies that are confronted with high fuel costs receive support. In addition, an extension of the tax credit for energy-intensive companies is planned. A fund of around EUR 200 million will be set up to provide non-repayable grants to companies with strong trade ties to the war-affected areas (Russia, Ukraine and Belarus).
Tax simplifications are planned for companies that invest more than 50 million euros in productions strategic for Italy. There should be support measures for low-income families. The Italian government will finance the measures without having to record a higher deficit this year, the Prime Minister said Mario Draghi when presenting the measures. Further aid packages could be taken in the event of a deterioration in the economy. Financing for Ukrainian refugees in Italy, whose number has risen to 110,000, was also decided.
“The government is doing its best to stand by the Italians at this difficult time,” Draghi said. The package contains important reforms and simplifications in the field of renewable energy, which can accelerate the ecological transition. This would allow Italy to become less dependent on Russian gas, Draghi explained.