Government hunting for 500 million for tax credit on agricultural diesel and new excise cut

Resources sought for the new cut in fuel excise taxes. After the 1.3 billion has been allocated to businesses for the Transition 5.0, the government is hunting for around 400 million to extend the discount for motorists. Not only that, because to these must be added other resources for agricultural diesel. Two interventions that will reach the Council of Ministers on Friday morning.

The latter was announced by the Minister of Agriculture Francesco Lollobrigida: 'We will intervene in the next decree on the agricultural sector with a tax credit also for agriculture,' he said. 'I want to thank the President of the Council to whom, together with President Prandini, we asked for this intervention and who gave her assent to go down this road

The president of Coldiretti Ettore Prandini thus intervened, thanking the government "for the sensitivity shown with respect to a situation that threatens to significantly affect the country's food sovereignty and the budgets of companies and families. As part of an ongoing discussion this morning with the government," Prandini recalled, "we had stressed the strategic importance of a measure to counter the record high prices recorded on agricultural fuel quotations.

The central intervention is that on fuels. Because on 7 April the 24.4 cents per litre cut will expire and prices, especially of diesel, would skyrocket. At an all-time high to be precise: diesel would exceed 2.3 euro per litre and thus by far the old record with the war in Ukraine (2.154 euro per litre on 14 March 2022).

However, the intervention (for twenty days) costs 400 million euro. And, as Bankitalia governor Fabio Panetta also pointed out, the risk is that the effects of the war in Iran will continue longer than expected. And that therefore the price of oil will remain so high, i.e. above one hundred dollars a barrel.