Giorgetti: 'Agreement with EU on seven-year deficit reduction. Banks' contribution? I call it sacrifice"

On the Rai licence fee, 'what we did last year is confirmed,' the Minister of the Economy clarified. In 2024 the Rai licence fee has been cut from 90 to 70 euro.

On the pensions front, Giorgetti said, 'we are introducing an innovative incentive mechanism to remain in service on a voluntary basis' with 'a significant incentive on the tax front'. "On pensions," he added, "there is full revaluation, there is revaluation of the minimums". The 'sterilisation mechanism that was in place is no longer there', he continued.

"Even the whole universe of those entities, subjects, foundations in various capacities that are not exactly daughters of the ministries but receive a contribution from the state will be called upon to respect certain basic rules of good finance," the minister said. "For those who receive contributions from the state, the top bodies in terms of all-inclusive remuneration will have a ceiling that we considered reasonable to set at the indemnity of the president of the council of ministers.

'The matter of the cadastre is not contained in the budget law, it is already in the law and is one of the commitments made in the budget structural plan,' the economy minister clarified. It is not a matter of 'updating cadastral rents but trivially what is already normally envisaged for all of us, those who have benefited from the Superbonus must have their cadastral maps updated, for those who have never declared' their homes 'we will go with the instruments at our disposal to see if it exists and does not exist'.

'The theme of the single network,' Giorgetti said, 'is one that we are evaluating, but I think some of the things that are being read are absolutely premature. We have just finished putting the system in order, let's see how the Sparkle operation closes and then we will eventually talk about this step, this profile'.

Deputy Minister for the Economy Maurizio Leo also attended the press conference. With regard to real estate and renovations, 'we envisage a 50% deduction on the first house and 36% remains for second homes,' Leo said.

"The banks," Leo explained, "have deferred tax assets, which give the possibility of deduction over time, we suspend the deduction for the years 2025 and 2026.

The manoeuvre, said Leo, 'extends the 50% furniture bonus for the purchase in 2025 of furniture and equipment'.

'On the capital gains from bitcoin,' Leo said, 'the withholding tax increases from 26 per cent to 42 per cent; on web tax revenues we work by eliminating the 750,000 euro ceiling and the 5 million euro portion produced in Italy, so we remove the thresholds.

With the revision of tax expenditures, the revenue should be "over one billion", the deputy minister clarified. There will be an 'expenditure ceiling modulated in relation to the number of children' and 'positioned on the income bands: from 0-50 thousand the ceiling will be higher, from 50-100 thousand it will be lower, beyond that even less. On that, the reference deduction will be applied, if we are talking about interest, medical expenses, etc., 19%, if we are talking about property renovation, 50%'. In short there will be 'a ceiling with respect to the number of children and modulated with respect to income brackets and then the rate will be applied'.

In the meantime, the estimates of the Budget Planning Document sent by Italy to Brussels confirm the forecasts of the Budget Structural Plan already announced by the MEF: the GDP is expected to grow by 1 per cent in 2024, 1.2 per cent in 2025, 1.1 per cent in 2026 and 0.8 per cent in 2027. The debt-to-GDP ratio at the end of 2024 is expected to reach 135.8 per cent. It is expected to reach 136.9 per cent in 2025, 137.8 per cent in 2026 and 137.5 per cent in 2027. In the programme scenario, the deficit/GDP ratio will fall from 3.8 per cent this year to 3.3 per cent in 2025, to 2.8 per cent in 2026 and below the 3 per cent ceiling required by EU rules, and then to 2.6 per cent in 2027.