La manovra 2025

Urso meets Confindustria on Wednesday

Orsini: on the manoeuvre, dialogue with Minister Giorgetti on premium IRES

The work to close the text went on throughout the weekend, accompanied by an armoured atmosphere, with sealed mouths and the unusual absence of drafts. Brakes: 'Tomorrow it will be there'

by Redaction Rome

21 October 2024

Manovra, piano del governo per contrastare l'evasione fiscale

5' min read

Key points

Text being filed
Brakes, the manoeuvre? They are putting it in place, tomorrow there will be
"Bitcoin tax may change in Parliament, not sensible"
Urso: Wednesday Orsini meeting, let's make task force structural
Orsini: we are talking about the manoeuvre
Agreement resources
Partners on different sides

5' min read

The majority looks with interest at the potential 'treasury' that will come from the two-year agreement. Resources primarily destined for a further cut in the Irpef, but which, in the case of a particularly rich loot, could also be allocated to something else. The League hopes for this, imagining a further extension of the flat tax. While Forza Italia is banking on cutting the rate for the middle classes. While waiting for the manoeuvre to arrive in Parliament, the opposition goes on the attack, with the PD denouncing the forecast, 'hidden' in an annex to the structural budget plan, of cuts to nursery schools in the South.

Meanwhile, the text of the budget bill has not yet reached the Chamber of Deputies, where the 2025 manoeuvre will begin its conversion process. The next few hours, leading up to the press conference on Tuesday 22 October with Prime Minister Giorgia Meloni, could be the good ones.

Text being filed

The text of the budget law would therefore still be in the way of filing: the work to close the text went on throughout the weekend, accompanied by an armoured climate, with sealed mouths and the unusual absence of drafts. Also under the lens would have ended up the announced rule to cut the ceiling on the salaries of the top management of public and private bodies that receive contributions from the State: to worry the Istat perimeter of public administrations considered too wide, in addition to the discontent in the potential stakeholders triggered by the announcement. The rule, however, would be confirmed at the moment. In the offices of the Mef and Palazzo Chigi, work is therefore underway to respect the timetable and send the bill to Parliament, as announced by Economy Minister Giancarlo Giorgetti. Also because then, on Tuesday morning, Prime Minister Giorgia Meloni's press conference is scheduled, which should focus precisely on the manoeuvre, even if it is inevitable that more pressing topical issues, from the bad weather emergency to Albania and the conflict in the Middle East, will also erupt.

Brakes, the manoeuvre? They are putting it in place, tomorrow there will be

The manoeuvre 'is still being put in place. You think it is only what you read, but behind it there are also a whole series of tables and it takes much longer to make the tables than to make the law and you can only send it to Parliament when there are also the tables,' clarified Economy Undersecretary Federico Freni as a guest on 'Un giorno da pecora' on Rai Radio1. Has he seen nothing of the budget law? 'Nothing,' he replied, and to the presenters who pointed out to him that there is a press conference of the premier on Tuesday 22 October, he replied: 'Tomorrow there will be.

"Bitcoin tax can change in Parliament, it doesn't make sense"

'There is only one tax that has increased and that I hope will not stay that way, which is the one on bitcoins. That is one of the things that I hope will change in Parliament," Freni added, speaking of the increase in capital gains taxation from 26 per cent to 42 per cent announced in the manoeuvre. "Who put it in the manoeuvre I don't know, but as a League I think a reflection on bitcoin should be done. If there is a sector like cryptocurrency that is a sector of the future, to increase the taxation on capital gains so much is perhaps not a sensible move, there are more sensible ways to do it," he added.

Urso: Wednesday Orsini meeting, let's make task force structural

Meanwhile, the government opens up for discussion. "I will meet on Wednesday with" the president of Confindustria, Emanuele "Orsini to substantially address the economic manoeuvre, to see what more and better can be done within the economic manoeuvre during the parliamentary passage". This was anticipated by the Minister for Enterprise and Made in Italy, Adolfo Urso, speaking at the assembly of Assolombarda. "With respect to a framework that we have already presented, my offices are already in contact with the European Commission to understand if we can do more and better" in the direction of the 5.0 transition, he added, announcing the will to "make the task force structural" of assistance to businesses.

Orsini: on the manoeuvre we are dialoguing

"We are in dialogue. We met with Minister Giorgetti and brought our demands'. This was said by the president of Confindustria, Emanuele Orsini, during the Assolombarda assembly. "We have always asked for the tax wedge cut to be made structural, we have seen that it is there and we are satisfied with that. We have also asked for intervention in the housing sector with our proposal for a plan that provides for sustainable costs, and in part it seems to be there'.

Confindustria president: on the manoeuvre we dialogue on premium IRES

"What we have definitely focused on the most is the issue of making our country attractive and growing our companies," the Confindustria president continued. "We need to increase productivity and know how to attract businesses. And so we have proposed several solutions. The one we are talking about is a bonus IRES for those who keep 70 per cent of profits in the company, using part of it, 30 per cent, for investments in technology, productivity, welfare and training. This would give us the opportunity to recover part of what we lost with Ace. Today I believe there is a need to make our companies even stronger, so investment is needed'.

The resources of the arrangement

While waiting for the manoeuvre, the connected tax decree has arrived in the Senate. The measure contains the constraint to allocate the resources of the concordat and the special repentance 'as a priority' to the reduction of the Irpef rates. In order to raise the rate from 35% to 33% on incomes up to 50,000 euro, Deputy Minister of the Economy Maurizio Leo explained in recent weeks, 2.5 billion euro are needed, while the bill rises to 4 billion if the tax benefit is extended up to 60,000 euro. The deadline for applications is 31 October, and no one at the Ministry of the Economy is making any predictions: payments tend to be made close to the deadline, says a cautious Leo, who sees enthusiasm and interest among taxpayers. For days now, however, there has also been pressure from accountants to ask for an extension: four trade unions have already proclaimed a seven-day strike from 30 October, even if the stop is not supported by the National Council. Leo, however, has already made it clear that the extension cannot be done.

Parties on different fronts

The fact that the bulk of the concordat resources are already reserved by the Irpef reform, however, does not curb the appetites of the parties. The League has never hidden the fact that it still wants to extend the flat tax beyond 85,000 euro. Giorgetti himself confirmed at a press conference: 'We are studying it, it is one of the things that can be done if the agreement goes particularly well. "We will see what can be done when we have the tax decree in the Senate," Carroccio group leader at Palazzo Madama Massimiliano Romeo replied on the point. Forza Italia, on the other hand, insists on allocating the funds to reducing taxes: if the agreement yields good results, it will be possible to 'reduce the intermediate Irpef rate from 35% to 33% and raise the band of beneficiaries up to 60 thousand euros,' says leader Antonio Tajani. The oppositions meanwhile open a new front of confrontation. In a table of the Psb, the PD denounces, it is written in black and white that "the right to crèche will no longer be 33% at regional level but will drop to 15%, contradicting the 2022 budget law, which set precisely at 33% on a local basis the availability of places with the aim of removing territorial imbalances".