Green light from the Council of Ministers to the update note to the Def. The maneuver for 2020 will be approximately 29 billion, as can be seen from the draft of the update note to the Def.
"We have approved this first public accounting document that announces the approach of the maneuver: it is an important document and I want to confirm that we have sterilized the increase in VAT. But we are not satisfied with this: I have asked Parliament for confidence on 29 programmatic points" and with the maneuver the government begins to implement them. Prime Minister Giuseppe Conte said this in a press conference at Palazzo Chigi.
“We want to reduce the tax wedge, that is our goal, like lowering VAT rates,” he added, “we cannot do everything in the first year, but we have set up the reforms.” “Already starting this year,” the prime minister said, “we are planning the modernization of the country, digitalization, bureaucratic simplification, the green revolution, to orient the entire system towards the circular economy and protect our environment immediately.”
Conte explained that the government also intends to send a signal to people with disabilities. “We want to pursue a family Act that brings order to the whole jungle of benefits and tax expenditures in favor of families,” and a code for disabilities will also be adopted.
Regarding the fight against tax evasion, Conte said: “We are aware that we need to work to increase the penalties for major tax evaders but also that we need to create a major social and economic pact for all citizens because one of the most effective tools is to encourage the use of electronic money and digital transfers”.
Conte also stated that “the minimum wage is in the government program, linked to a reference contract and to the problem of union representation and the erga omnes effectiveness of collective labor agreements”.
With the update note to the def "we define a public finance scenario for the next maneuver that is solid and aimed at growth". This was stated by the Minister of Economy Roberto Gualtieri in a press conference at Palazzo Chigi. "The framework outlined by the Def in view of the maneuver, according to the minister, "constitutes a solid basis for an ambitious program that must deal with a challenging legacy, both for the international framework, and for the repercussions on public finances that have had more tumultuous seasons of the political framework and relations with Europe".
Gualtieri announced plans to issue “green bonds, issuances of Italian debt securities explicitly intended to support investments in environmental sustainability.”
A “super bonus” emerges for those who pay with cards and debit cards in the sectors most at risk of tax evasion. To be combined with the monthly cashback mechanism on all traceable payments and to be given all at once, perhaps at the beginning of the year (so much so that it has already been renamed the 'Befana bonus'). It is one of the hypotheses being studied in view of the maneuver to incentivize electronic money. However, qualified sources explain, it would be included within the more comprehensive plan of the “new VAT”, with a remodulation of the rates.
The amount of the bonus will depend on resources, but the goal is to return up to 475 euros to those who, in the previous year, spent up to 2.500, with a card or debit card, to buy in the sectors most at risk of tax evasion.
ALL THE NUMBERS OF THE DEF – Interventions are planned, between new revenues and spending reductions, for approximately 14,4 billion. The flexibility on the deficit is approximately 14,4 billion, 0,8% of GDP.
“The public finance maneuver for 2020 includes the complete deactivation of the VAT increase,” is written in a draft of the update note to the DEF.
As for the deficit to GDP ratio, it is 2,2% in both 2019 and 2020. Then it drops in the following two years: to 1,8% in 2021 and to 1,4% in 2022.
“In the last 12 months, GDP growth forecasts have undergone continuous downward revisions,” reads the draft report to Parliament that accompanies the update note to the Def, “reaching 0,1 percent in 2019 and 0,6 percent in 2020, compared to 1,5 percent and 1,6 percent respectively estimated in the 2018 Nadef.” “As regards the projection of the debt/GDP ratio, starting from the level expected for the end of 2019 (135,7%),” reads the draft update note to the Def, “and assuming proceeds from disposals and other capital revenues allocated to the public debt amortization fund for 0,2 percentage points of GDP per year, the ratio would fall to 135,1 percent in 2020 and then to 133,6 percent in 2021 and 131,4 percent in 2022.”
“The additional commitment needed to reduce the tax wedge in 2020 is estimated at 0,15 percentage points of GDP, which will rise to 0,3 points in 2021,” reads the draft update note to the Def. This is approximately 2,7 billion in 2020 and approximately 5,4 billion in 2021.
“The resources for financing the interventions envisaged by the budget for 2020 are equal to almost 0,8 percent of GDP (about 14,4 billion)” divided as follows: 7,2 billion (0,4% of GDP) from the fight against tax evasion, including the “spread of traceable payment instruments”, 1,8 billion from the spending review (0,1% of GDP), 1,7 billion (about 0,1% of GDP). The rest will come from cuts to subsidies and other fiscal measures.
On the subject of privatizations, the draft of the update note to the Def sets a target of 3,6 billion in 2020 and 7,2 billion in the two-year period 2021-2022. None are planned for 2019. "The Ministry of Economy and Finance revises the revenue target for 0,0 to 2019 percentage points of GDP, the target for 0,2 to 2020 percentage points. Furthermore, a revenue target of 0,2% of GDP per year is introduced for the two-year period 2021-2022". These targets, it is stated, include extraordinary dividends and other financial proceeds earmarked for the Public Debt Amortization Fund.
“The new government was formed quickly and found itself having to update the Def and set up the upcoming budget session in a very short time,” writes Roberto Gualtieri in the introduction that opens the Nadef, according to a draft. “We are convinced that we can bring about a change of pace in economic policy with the next budget law and that an opportunity has opened up to design incisive reforms and prepare a real relaunch of the Italian economy,” he adds.
Minister Dario Franceschini on Twitter: “Warning to sailors: the daily mania for visibility wears down governments. We've already seen it all. They invent arguments about VAT, when no one wants to increase it, just to have some spotlight on. The Democratic Party chooses seriousness and is committed to the tax wedge to increase salaries”.
The leader of the League, Matteo Salvini, goes on the attack: "Economic maneuver fraud, with billions in new taxes. They have already betrayed all the promises made in August".
In the Nadef to complete the 2020-2022 budget maneuver, the government declares 23 related bills: here is the complete list
– Green New Deal Bill and the country’s ecological transition;
– Bill on entertainment, cultural and creative industries, tourism;
– Bill containing provisions on initial training and qualification of teaching staff;
– Bill on the reorganisation of the evaluation model of the national education system and universities;
– Bill establishing the National Agency for Research and Technology Transfer;
– Bill containing measures to support and enhance the family (family act);
– Bill containing measures to promote differentiated autonomy pursuant to Article 116, paragraph 3 of the Constitution through the elimination of economic and social inequalities as well as the implementation of forms of coordination between central administrations and regions, also with the aim of reducing constitutional disputes;
– Bill on land registry reform;
– Bill introducing simplifications and reorganisation in tax matters;
– Bill on the reorganization of the gaming sector;
– Bill delegating the government to issue a consolidated text on accounting and treasury matters;
– Bill on innovation economy and investment attraction;
– Bill on public investment bank;
– Bill containing reduction of the tax wedge;
– Bill on regulatory simplifications and drafting of consolidated texts;
– Bill on the revision of the ticket regulations and exemptions for specialist services and outpatient diagnostics;
– Bill on disability;
– Bill containing measures aimed at rationalising transparency and anti-corruption measures;
– Bill containing targeted interventions aimed at coordinating the disciplinary responsibilities of public employees;
– Bill containing provisions for the simplification and clarification of procedures and procedures in the area of ordinary and generalized access;
– Bill containing provisions aimed at rationalising public administration selection procedures;
– Bill on regulatory and administrative simplifications and drafting of consolidated texts.
– Bill delegating the government to revise the civil code.
Naples - Carabinieri officers from the Chiaia station have executed a house arrest warrant issued by the preliminary investigations judge of the Naples Court on behalf of the Prosecutor's Office. The order concerns a forty-year-old Neapolitan man already known to law enforcement. The "fake Carabiniere" scam. According to investigators' findings, the man is seriously suspected of a…
Here is the detailed horoscope for Saturday, February 14, 2026, curated and developed following the style and sensitivity of Paolo Tedesco.
What do the stars have in store for us this Valentine's Saturday? Love is in the air, but not only that. The Moon, in a dialoguing aspect with Jupiter, invites you to indulge in small luxuries and cultivate hope. Just be careful not to overdo your imagination: Venus reminds us that true love (and true success) is built on reality, not illusions. Let's discover together how to best exploit these energies, sign by sign.
Secondigliano: A thirteen-year-old boy at school with a box cutter pen has alerted the police.
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