The Minister of Economy and Finance Giancarlo Giorgetti resolutely defended the choices contained in the Budget, responding to the criticisms coming from Istat, the Bank of Italy, the Court of Auditors and the Parliamentary Budget Office. The observations concern in particular the effects of the reduction of the second Irpef rate, a measure which according to some analyzes would favor medium-high incomes.
Support the middle class
During his speech at the Festival of industrial territories in Bergamo, Giorgetti explained that the objective of the Executive is to support the middle class:
We were massacred for trying to help not the rich, but those who earn reasonable amounts. We need to understand what is meant by rich: if it is someone who earns 45 thousand euros gross per year, just over 2 thousand euros net per month, then a different reflection is needed.
The minister recalled that in 2024, 18 billion euros had already been allocated for incomes up to 35 thousand euros and that, with the new budget, the intervention also extends to those who receive up to 50 thousand euros per year. A measure, he said, which is part of a multi-year strategy to support purchasing power.
The maneuver towards parliamentary changes
The Budget Law now heads to the parliamentary phase, with party amendments expected in the Senate by Friday. Giorgetti has already anticipated the Government’s willingness to evaluate some corrective measures in key sectors, in particular on short-term rentals, dividends and credit compensation.
The objective, he explained, is to improve the text without altering its overall balance and underlined the difficulties of balancing growth, public spending and the international context marked by economic and geopolitical instability.
Possible extension of hyper and super depreciation
Among the innovations under discussion, one of the most significant concerns the multi-year extension of hyper- and super-depreciation. These measures, designed to incentivize productive investments, could be made structural to allow companies to plan better over time. These are his words:
Making the relief multi-year would give entrepreneurs a framework of certainty and the possibility of planning investments
The ministry is evaluating a solution that allows the incentives to be extended to more businesses, so as to support the modernization of machinery and technological innovation in the industrial sector.
Focus on credit and the role of banks
Another point touched by the minister concerns the behavior of the banking system. Giorgetti invited credit institutions to return to focusing on credit disbursement, which is essential for supporting families and businesses.
According to the owner of the MEF, the State is already doing its part through public guarantees on loans, and banks should exploit this tool to relaunch productive investments.
The minister also recalled the need for a more flexible approach on the part of the European authorities, in order to adapt banking regulations to the current economic context.
Energy and taxation: the Ecofin issue
In view of the next meeting of Ecofin, the council of economic ministers of the European Union, Giorgetti announced that he will defend the Italian position on the issue of gas taxation. The objective is to prevent the new European rules from penalizing the national industry:
If some proposals were to pass, it would be the tombstone for the Italian industry from 2033 onwards.
