EU, the reform of the stability pact does not convince Italy. pnrr node

The changes to the stability pact that the European Commission has in mind are turning the nose of the centre-right in government. The critical intervention for the Brussels plans is by the Brothers of Italy and the League. “The proposals for reforming the Stability and Growth Pact, presented today by the European Commission, are not entirely convincing. If, on the one hand, the attempt to overcome the rigidity of current regulations is positive, which are evidently no longer adequate to the delicate economic context we are going through, on the other hand, unfortunately, the pendulum seems to have swung in the direction of rigor and not growth», they note. head of the Fratelli d’Italia-Ecr delegation Carlo Fidanza and FdI MEP Denis Nesci member of the European Parliament’s Econ commission.

“In fact – the two continue – the imposition of a multi-annual ceiling on public expenditure without also providing for a ‘golden rule’ for public investment risks jeopardizing the economic recovery and growth of countries with high debt, as is the case from Italy. To revive our competitiveness, we need an adequate and solid industrial and commercial policy, accompanied by economic rules that must be designed to meet the needs of the Member States, avoiding imposing brakes and constraints that prevent their full development”. ‘Therefore, it will be necessary to review the new introductions concerning the annual tax adjustment which will be particularly burdensome for several Member States. The hope is that during the negotiations the final text will be improved to achieve a better balance between the two values, stability and growth, both necessary», says the FdI message.

A similar line for Giancarlo Giorgetti, Minister of Economy and assistant secretary of Carroccio: “We take note of the commission’s proposal on the new stability pact. It is certainly a step forward, but we had vehemently asked for the exclusion of investment expenses, including those typical of the digital Pnrr and the green deal, from the calculation of the target expenses on which compliance with the parameters is measured. We note that this is not the case. As any investment expense is significant and generates debt for the new pact, it must be carefully evaluated. For this reason – says Giorgetti – it is necessary to prioritize only expenditures that really produce a significant positive impact on GDP».

Source: IL Tempo