The "provisions that determine greater revenues" follow the same direction as the resources, concentrated only on the next financial year: "only a part has a structural nature since in 2027 permanent revenues represent approximately 30 percent of the total compared to 25 percent of temporary revenues and 45 percent made up of revenue advances intended to translate into lower revenues in subsequent years".
The Court of Auditors highlighted this in the hearing of the House and Senate Budget Committees on the measure. "The lack of temporary revenue is likely to constitute implicit charges for subsequent manoeuvres, where it is intended to continue to finance one or more of the temporary measures envisaged in the budget manoeuvre", observes the accounting judiciary, explaining that "in essence, the set of measures appears oriented towards satisfying the needs of covering the individual interventions rather than consolidating the tax base of the taxes".
"Overall, the direct effect on a moderate redistribution of resources to combat poverty and support income from work and health spending must be considered positively; however, the concentration of a large part of the facilitation interventions on the next financial year alone cannot be underlined", "leaving the task of deciding whether or not to renew the measures to the next Parliament", highlights the Court of Auditors citing a series of interventions, "from the reduction of the Irpef rate to the extension of tax exemptions on contractual increases, bonuses and shifts, from the voucher for elderly people to the reduction of the tax burden on young people, from the confirmation of some construction bonuses to the coupons provided for the rental contracts of commercial properties".
"The tax and contribution measures intended for productive activities, self-employed workers and the agricultural sector represent a concrete signal of attention towards a fundamental part of our economic system: the measure intervenes on the taxation of small economic activities, supports employment and encourages investment in innovation", notes the Court, underlining however how it is "important that the needs for financial coverage do not translate into an increase in the liquidity of businesses, especially smaller ones; a liquidity for which there is an asymmetric impact of the measure since a large part of real financial benefits for businesses will be concentrated in 2028 due to the tax balance and advance payment mechanisms. On the other hand, the choice to spread the residual Superbonus credits in 10 annual installments (until 2036) will lead to an immediate contraction of liquidity for the holders of these credits, protecting the State's balances while transferring the burdens to subsequent years".
With the return to adjustments by bands in the equalization of pensions, "the maneuver makes the choice to reintroduce a more penalizing system for medium and medium-high pension payments, which fuels a framework of uncertainty on the real value of a pension years after retirement from work", highlights the accounting judiciary which, while recalling how this system has "passed the scrutiny of the Constitutional Court", "less uncertain mechanisms are to be hoped for which can also guide the consumption and investment choices of pensioners on the basis of a reasonable expectation of the prospective dynamics of their 'real' pension income".
Since 2012, the accounting judiciary recalls, there has been "the prolonged adoption of interventions to compress the monetary revaluation of medium-high pensions which have progressively eroded their purchasing power. If in the phases of decisive remission of prices and deflation the impact of the penalties was marginal - it is warned - the abrupt increases or inflation shocks - in particular in the 2023-2024 round - have led to a marked devaluation of treatments that are not fully protected".
At the Sala del Mappamondo of Montecitorio, the joint Budget Commissions of the House and Senate carry out the following hearings as part of the preliminary fact-finding activity for the examination of the bill containing the State budget for the financial year 2027 and the multi-year budget for the three-year period 2027-2029, pursuant to article 119, paragraph 3, of the Chamber Regulations and article 48 of the Regulations of the Senate.
