The hypothesis of a reduction in VAT divides the majority. Visco: comprehensive reform is needed

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the measures for the revival

Conte’s proposal to the General States: “But it’s an expensive measure.” M5S deployed for an intervention on the German example. The prudence of the Mef

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Conte’s proposal to the General States: “But it’s an expensive measure.” M5S deployed for an intervention on the German example. The prudence of the Mef

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The premier Giuseppe Conte, asking the general states of Villa Doria Pamphilj, he talks about the possibility of a temporary reduction in VAT to trigger the consumption circuit “and to restart the economy. But the intervention – inspired by what Germany has done – splits the majority. The hypothesis appeals to the 5 Star Movement, less to the Democratic Party. The Ministry of Economy is prudent: simulations will be conducted during the week to understand the feasibility of the intervention which could cut the maximum rate of 22% by ten points. With a cost that, depending on the solutions adopted, ranges from 4 to 10 billion.

The governor of the Bank of Italy intervenes on the issue Ignazio Visco to underline how the tax reform “needs an overall vision” and “not tax for tax”. Visco, speaking online at an event at the Lincei, said that “it is an old story” but current, the theme of the “large scale of tax evasion, illegality and organized crime”. This “turns into a very heavy tax burden for those who pay taxes.”

That it is a “costly” measure, the premier acknowledged. The need for such an intervention, however, derives from the Government’s concern to recreate the climate of trust necessary to trigger the consumption circuit. We look in particular at what has been done by the government of the chancellor Angela Merkel that in the 130 billion plan launched to deal with the crisis, provided for the reduction of VAT from 19 to 16% for six months.

Conte’s words follow what was said a few days by the Minister of Economy Roberto Gualtieri: lowering VAT, he explained, “is a very expensive measure” that must be carefully evaluated also because Italy is one of the European countries that has spent the most against the coronavirus pandemic. What is certain is that the government is reflecting and also looking at what other countries have done to find interventions “also on the demand side”, Gualtieri had always explained at the Trento economy festival.

The hypothesis of VAT reduction, on the German model, is supported by M5S. The deputy minister at the Mef Laura Castelli he has been proposing for days “on the sectors that have been most affected by this crisis – he explained in an interview with Republic – and that are slow to start again, I think of the entire tourism and catering chain in the first place. But also to crafts, clothing, and cars. ” The measure must be linked to the use of electronic money and will last for two years.



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