Tight work tempo for the Government, which is struggling only with the 2024 budget law. On the morning of Monday, October 16, a Council of Ministers will meet to discuss the fiscal maneuver as well as the Budget Planning Document (DPC), which will be sent to Brussels immediately. . The tax decree linked to the budget is also on the ministers’ agenda.
In the coming weeks, as we have stated many times before, we will pass on the budget law, where resources will remain limited despite the budget deficit expanding to 15.7 billion euros. The increase in Italian public debt did not go unnoticed by the Fitch rating agency, which spoke of a “significant loosening of fiscal policy compared to previous targets”, but Economy Minister Giancarlo Giorgetti responded: “The institutions are doing their job. I need to do it too. With Parliament and especially those with low incomes.” “It’s about families suffering and I can’t ignore that.”
Budget Law 2024: Low incomes, emphasis on family and healthcare
In light of the meeting, Palazzo Chigi, who rejects hypotheses of tax or amnesty, explains how the government is focused on protecting the lowest pensions and middle-low-income families, families and healthcare. In addition to confirming the cut in the tax wedge for middle-low-income earners, the renewal of public contracts is also expected to begin, especially in relation to the healthcare sector.
Concerned about conflicts in the Middle East, Prime Minister Giorgia Meloni called on everyone to be “cautious” in maneuvering even during the parliamentary transition phase, asking all political forces to minimize changes. While waiting for the budget session to start, the Parliament approved nearly 16 billion deviations and Nadef. To avoid a repeat of April’s Defender stumble, the House and Senate, with full power of lawmakers and senators, approved majority resolutions by 224 yes and 127 no, 111 yes and 69 no.
Precisely thanks to the larger debt of 3.2 billion, the Government expects to ensure the advance adjustment of the Istat regulation for pensions for 2024, measures for public administration personnel and the management of migration flows.
Tax decree: 100 euros more in your paycheck
The measure is also expected to initiate tax reform, which will include reducing Irpef rates from four to three. This intervention, combined with the cut in the tax wedge, will add up to 100 euros per month to the wages of middle-low-income workers. A League bill to abolish November’s large tax advance and VAT figures for self-employed workers could also find a place in the tax panel.
In recent weeks, Deputy Economy Minister Maurizio Leo has talked about measures that will promote a new relationship between tax authorities and taxpayers, such as the biennial preventive agreement, as well as the review of the schedule of obligations for both declarations and payment terms. and collaborative alignment.
To raise cash, new rules will also be added for the introduction of a global minimum tax from January 1, 2024. This tax is a long-awaited tax for web giants that could guarantee an estimated revenue of around 2-3 billion euros.
I retired with 103 quotas
However, the long-awaited pension reform will be postponed until next year due to lack of resources. The government appears intent on expanding Quota 103, which allows people aged 62 and 41 years of contributions to leave work early, and Social Monkey for disadvantaged workers, with a possible expansion of the audience.
But on the Donna Option, the executive appears to want to stick to the 60-year age threshold without considering unions’ demands to reinstate the current requirements in 2022: 58 years for employed women, 59 years for self-employed women. 35 years of contribution.
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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.
