The meeting of the Council of Ministers has begun at Palazzo Chigi.
On the table is the discussion on the new budget variance, also in view of the launch of the Economic and Financial Document, expected at a subsequent meeting of the CDM.
Another 40 billion, to be introduced into the economy closely, to give oxygen to businesses and prepare for a restart: the government is ready to ask for the new deviation of about two and a half points of GDP, to guarantee companies liquidity, to give other refreshments - based on two months rather than just one - especially for those who have been closed to limit infections - and to reduce some fixed costs, from Imu to rents, for the sectors most damaged by the Covid emergency. The deviation will also serve to finance the fund for the works excluded from the Recovery but which are to be included among the priority ones for the next few years. The operation goes hand in hand with the preparation of the Economics and Finance Document, which will outline the macroeconomic framework for the next three years, but will take place in two steps: a first Council of Ministers will already examine the report to Parliament today with the request for the new non-profit, while for the ok to the Def there would still be some open chapters and a supplement of reflection would be needed to find full convergence. However, to know Palazzo Chigi, it would be just a few filings. However, the goal remains to close this chapter within the week, in order to start the process to obtain the ok from Parliament and proceed with the Sostegni bis decree. But also to focus on the last details of the Recovery. The Plan de facto overlaps the National Reform Plan that governments are called to attach each year to the Def, to indicate the reform projects to Brussels and respond to the Commission's recommendations for each country. The orientation is therefore to present a single document, the NRRR, as soon as it is completed and illustrated to Parliament, by the end of the month. Already with the report to Parliament, however, first indications should also arrive on the Recovery, given that a share of the additional deficit will create the dowry for the Fund "complementary" to the NRP. Also in this case it will be a multi-year fund of about 4-5 billion a year starting from 2022 and an initial loan, perhaps of a smaller amount, as early as 2021. In all, it ranges between 20 and 30 billion, a figure of redundant proposals indicated by the same State Accountant Biagio Mazzotta a few days ago. Moreover, the EU has set very specific limits: projects, for example, must not exceed the time horizon of the plan - 2026 - and mutual funds must not be used to cover current, structural spending. Road maintenance, for example, would be one of the items in the balance that could 'move' to the ad hoc Fund. Other items in the plan are also still being studied (we would be thinking, for example, to strengthen the broadband dowry), and the positive impact of the projects on GDP will also depend on the composition of the various expenditure items (the trend should be set at 4.1% in 2021 and 4.3% in 2022). The 40 billion in new aid will also have an effect: the package of measures is still under evaluation, and will be coordinated with the amendments to the Sostegni 1 decree. The senators intend to defend their role and are asking in particular to be able to intervene on those measures that do not need immediate operation. In short, with the 550 million available, the exemption from the tax on public land could be extended until the end of the year for bars and restaurants that have outdoor tables (one of the characteristics that could also be evaluated in the calendar of reopening) , which costs about 140 million, and they would like to complete the action on fixed costs with the stop also on the second Imu installment for hotels and the extension of the exemption also to catering activities (which would cost about another 450 million). The renewal of the tax credit for rents should instead come with the Sostegni bis decree which will also replicate the refreshments for those who have had incurred losses. The idea is to maintain the current mechanism, which guarantees speed in the disbursement of contributions thanks to the Revenue Agency - Sogei platform, but we would be considering how to "weigh" the new refreshment points to see if they can be better targeted towards the most affected activities.
