A maneuver worth around 23.5 billion euros in 2027, with interventions to support families and businesses and coverage that will also come from the financial sector, from cuts to ministries and from games. This is what emerges from the 2027 Draft Budgetary Plan (Dpb) sent by Italy to the European Commission, which confirms the use of the national safeguard clause to finance increased spending on defense and energy security. The deficit is forecast at 3.4% of GDP in 2027 and 3.2% in 2028, after falling below the 3% expected this year.
The Dpb budget plan document has been sent to the European Commission and the Italian Parliament. The Ministry of Economy announced this in a note last night. The document, approved on Tuesday by the Council of Ministers, confirms the programmatic objectives of the Public Finance Programmatic Document (DPFP) and anticipates elements of the maneuver. The text does not yet appear on the European Commission website.
"The precise definition of the interventions that will be included in the budget bill soon to be presented to Parliament will take into account the results of the discussions underway with the European Authorities aimed at better defining the perimeter of activation of the national safeguard clause". This is what we read in the budget plan sent to Brussels.
The financial sector will guarantee a contribution of 0.21% of GDP to the maneuver in 2027, equal to approximately 5 billion euros. We can read it in the tables of the budget planning document sent to Brussels. The sector will also ensure contributions in the following two years, equal to approximately 3 billion in 2028 and over 2 billion in 2029.
However, the banks are still waiting for details on the 5 billion euros that the financial sector will have to provide in the maneuver as indicated by the government's Dpb. Officially, everyone is tight-lipped but, as several sources in the sector report, the banking world remains opposed to a new outlay given that a three-year agreement for 10 billion euros had already been reached last year. The news arrived without any prior negotiation and without warning, we learn, and without specifying how the burden will be divided between banks, insurance companies and other companies in the sector, given that the text speaks generically about the financial sector.
"The Government places the protection of the purchasing power of families at the center of budget policy, with particular attention to the most fragile ones, as well as support for businesses and investments". This is what we read in the budget planning document. According to the tables, measures for the family and social spending will be worth 0.21% of GDP, around 5 billion, and are the heaviest item. For 'fiscal measures' 0.09% of GDP is expected, approximately 2.16 billion, for defense 0.19% (4.5 billion), for healthcare 0.1% (2.4 billion), for business support 0.14% (3.3 billion) and for infrastructure 0.13% (3.1 billion).
Tajani, 'various measures are being planned to reduce tax pressure'
"As regards the economic measure, we will present to our allies a series of measures which concern the reduction of the tax burden for young people, not taxing I think up to the age of 30-35, the expansion of the abolition of road tax to all first cars. We absolutely think that we must then confirm the reduction of the IRPEF up to a base of 60,000 euros with a quota of 33%". Foreign Minister Antonio Tajani said this on the sidelines of the EPP pre-summit in Brussels. "Then there may also be other initiatives, I am referring to healthcare. As you know, healthcare expenses incurred by a citizen in the following year can be deducted. And we ask that this can be done in the year in which healthcare expenses are incurred. We will see in what way, it could be a card, it could be an advance deduction", continued the leader of Forza Italia. "I also believe that the European Central Bank should not increase the cost of money, and this would be a mistake, because access to credit is fundamental. If the cost of money increases, it becomes more difficult to work for the growth of competitiveness, which are two issues that are also being addressed in Europe these days", he added.
