Giorgetti on Irpef cuts: "Selective or generalized interventions"

The Minister of Economy spoke on the sidelines of the meetings of the International Monetary Fund in Bangkok. On banks: "I confirm that a contribution will be requested"

Irpef cut, levy on banks, budget law. It is a Giancarlo Giorgetti who preaches balance who spoke on the sidelines of the meetings of the International Monetary Fund in Bangkok. The Minister of Economy and Finance outlines a path made of sustainability and responsibility, which takes together the needs for debt relief and the Meloni government's program, starting with the reduction of the tax burden.

"We will evaluate together with the parties what to do about the Irpef cut"

"As far as Irpef is concerned, to the extent that all the boxes and pieces of the puzzle these days give space to interventions, the great choice we face is whether to make selective or generalized interventions", explained Giorgetti. "It's not right for the minister alone to decide, we will evaluate together with the parties, the leaders and President Meloni. Two weeks ago I had an income and expenditure picture, now it's not that I'm optimistic but we're going in the right direction."

"Banks can contribute"

On the account consolidation front, Giorgetti reiterates that help will be asked from the banks: "I confirm that a contribution will be requested from the financial system because we believe it can support it, even in the forms we believe it will be something sustainable". Giorgetti added that "keeping the spread under control is in everyone's interest" referring to the fact that banks have billions of euros of BTPs on their balance sheets. Furthermore, when asked about possible appeals from the banks, the minister commented "all Italians could take the State to court because it increases taxes. We will try to calibrate the right thing to do, I don't think anyone will die".

Budget law "very constructive dialogue"

On the budget law, Giorgetti explained, "work will probably be completed next week and we will present it to parliament, as we know, a very constructive dialogue continues - here too I saw Dombrovskis - regarding the Nec clauses for defense and energy". Meanwhile, the minister claims the credibility received at an international level: "We have decided to continue on a path built in recent years of renewed credibility of public finance, sustainability and debt, credibility which is measured in a tangible way here". Giorgetti, however, joked about the IMF's estimates, which predict a growth in Italian GDP of 0.8%: "The Fund's econometric model has a flaw" in which "you look at the forecasts and they always tend to underestimate the economic performance" of the country. "This year we are around 1%, it could be 0.9%, therefore slightly above the IMF forecasts which rightly, like everyone else, has revised upwards", said Giorgetti on the sidelines of the IMF meetings in Bangkok.