Now the government is putting its hands forward. “You can’t do everything,” Economy Minister Giancarlo Giorgetti admitted to the Rimini Meeting audience on Monday, talking about economic maneuvering. Giorgetti’s speech without discount froze the expectations of those who hoped for a budget law “at all costs”. Its motto is to be careful. “You can’t do everything,” repeated Deputy Prime Minister and Foreign Minister Tajani today. The first reform that is in danger of failing is the most valuable to the Union (Giorgetti’s own party) or the coveted “41 Quota”, which allows one to retire with 41 years of contribution regardless of age. Salvini has been trying since 2018 but has had poor results so far. The majority has so far not put a headstone on the possibility of reforming the social security system, but it is now clear that priorities are different. First of all (Salvini underlined himself) is that the cut in the tax wedge is also confirmed for 2024.
“We’re focusing on growth,” Tajani said today, “and the maneuver will also target growth”, but “when there’s an economic situation that still sees inflation as too high, not caused by internal factors but external factors, we should give priority to families and businesses, the benefits of salaries and pensions.” Defend purchasing power”.
According to the deputy prime minister, “the cut in the tax wedge needs to be approved and the reduction of taxes on employee wages and the reduction of taxes on bonuses, overtime and production bonuses should be prioritized. This is the path we have to take.” “. What about pension reform? It has disappeared from the radar.
Even if the league doesn’t give up. According to some media rumors, Carroccio’s latest proposal will be to experimentally introduce the Quota 41 for just one year. And in this way show that the cost of the measure is sustainable. However, Salvini could not find a place on the side of the majority. And it’s no coincidence that no government official these days is making pension reform a priority for the next budget bill. Therefore, the only viable alternative for 2024 continues to be the extension of Quota 103, which provides the opportunity to leave the job with 62 years and 41 contributions. There is no question of repealing the Fornero law. Instead, some interventions can be put in place to protect the purchasing power of retirees, especially those with low benefits. It is a possibility that both Tajani and Salvini refer to, albeit generally.
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Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
