Transition 5.0, Giorgetti: with war we must decide who to help
This was said by Economy Minister Giancarlo Giorgetti in a video link-up at the Teha Finance Forum in Cernobbio
Key points
- Giorgetti: we have no shortage of supplies but current prices are a problem
- "In Europe, serious reflection on anti-inflation measures
- "We need to understand who to help, for this standard on Transition 5.0"
- Palazzo Chigi: towards round table with manufacturing categories on incentives
- Foti: ninth instalment to be paid by mid-May
- Reflection on early exit from infringement procedure
"We face this crisis from a position of relative solidity. The fundamentals of our economy are not exceptional, but certainly positive: public finance at the moment is capable of absorbing this shock, and I dare not imagine what it would be like to face this appointment with history in a different situation from the one we are in'. So said the Minister of Economy, Giancarlo Giorgetti, in Cernobbio (Como) in a video link-up to the Teha Finance Forum
Giorgetti: we have no shortage of supplies but current prices are a problem
"I believe that Italia on the energy front has made important choices that allow for greater resilience" through "the diversification of supply sources". Then 'it is clear that at the moment we do not have problems with supply shortages, but the energy market is global, so the tensions that exist in Asia also affect the European markets,' explained the economy minister, for whom the current oil and gas prices 'for an important slice of the Italian economy risk objectively creating problems
"In Europe, serious reflection on anti-inflation measures"
Italia and Europe find themselves 'in a very complex framework in which the approach must be prudent and responsible. Certainly one must not think of doing things in a hurry, but equally certainly I believe that Europe must seriously reflect on what tools are available to prevent the inflationary contagion, perhaps aided by speculation, from doing even greater damage,' Giorgetti added in his speech.
"We need to understand who to help, for this Transition 5.0 standard"
As for the tax decree, approved on Friday 27 March in the Cdm, "as a government, we decided yesterday to give a minimum guarantee for concessions comparable to the old 4.0, but at the same time to listen to the categories to understand in such a situation what emergencies and priorities they want to manifest," said Giorgetti, in the aftermath of the approval of the provision that, according to Confindustria, introduces "very penalising" provisions for companies that have booked the 5.0 tax credit.
Giorgetti explained that 'we had a trajectory, programmes of a certain type, then something happened that was beyond our possibilities, an external shock comparable in prospective terms to that of the crisis in Ukraine, and which basically leads us to reflect on what we must do, who we must help and who we must incentivise. The affair of the decree-law, in particular of the resources allocated to the so-called exodus victims of the Transition 5.0 applications, stems precisely from this,' he added. With regard to the resources earmarked for Transition 5.0, 'we have to decide whether the availability should go to energy-intensive companies rather than to transport companies or for excise cuts'.
