Savings: Cimbri, do not allocate them solely to debt servicing but to capital and businesses

Welfare spending should be targeted; a scattergun approach is ineffective

(Il Sole 24 Ore Radiocor) - ““At present, our approach is to allocate savings to service our debt, but we need to do something different: we lack a culture of capital investment – that is, of channelling savings towards productive investments – and we must also foster a culture of entrepreneurship, which is the means by which society grows because it creates jobs, welfare and wealth”. This was emphasised by Unipol’s chairman, Carlo Cimbri, during a discussion with Antonio Polito at the ‘Welfare, Italia’ think tank conference. “If we want welfare, we must grow the country, and to grow the country we must increase wealth,” observed the executive.

Cimbri, speaking about welfare spending, went on to emphasise the need to be “selective”: “A little bit of everything for everyone – the blanket measures we saw during the Covid period – are something we as a country cannot afford: when resources are limited, we must ensure they are used more effectively; otherwise, we end up with measures that appear to be beneficial but in reality do not reach those who actually need them.”

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