An irreversible rejection. This, as expected, is the Democratic Party’s stance on the budget bill approved by the Council of Ministers this morning. The speaker is the party’s head of Economy and Finance, Business and Infrastructure, Antonio Misiani.
“This is a very weak measure – explains Today.it – completely inadequate to cope with the rapidly deteriorating economic and social situation. The two main measures, namely the extension of tax cuts and the Irpef reform, are financed mainly due to the budget deficit and only for one year. “A huge mortgage on the future is nothing more than a prudent and realistic manoeuvre. For the rest, a strict austerity policy on essential services and little or nothing to restart growth.”
Don’t you think cutting the wedge and intervening in Irpef rates could mitigate the effects of the high cost of living?
“There are many explanations for the cost of living, but no effective strategy. The cut in the wedge confirms the situation in 2023: net paychecks for employees will not change by a single euro. As for Irpef, the intervention is not noticeable for incomes until 2023. 15 thousand euros is very little, even for those up to 50 thousand. We have experienced 16 points of inflation in two years, salaries increased by 4 percent. A few points reduction in personal income tax will definitely not change this situation. They have changed completely. The resources allocated to public employment contracts, education and public transportation are also insufficient , there is nothing about housing policies, on the contrary, there is an ideological opposition to the minimum wage, which could improve the living conditions of three million workers without imposing any burden on the situation”.
However, there are measures to support families.
“Anything that helps families with children is good. Having said that, we have asked to strengthen the single allowance by reinvesting unused resources there. It seems to me that the Government has chosen another direction, supporting the impact announcement on the clause in some cases”.
The Prime Minister announced 3 billion dollars for health. Will they be enough?
“The 3 billion allocated by the budget law is less than what the Minister of Health and the Regions, largely governed by the right, demanded. And, above all, it is much less than the amount needed to maintain the ratio of public health expenditures to GDP in 2023. Conclusion “We will return to pre-Covid levels in 2024 and move further away from the rest of Europe.”
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Source: Today IT
Emma Fitzgerald is an accomplished political journalist and author at The Nation View. With a background in political science and international relations, she has a deep understanding of the political landscape and the forces that shape it.
