Time.news – The government prepares an aid plan for the economy gives 40 billion with which it will finance a new round of refreshments for businesses, the suspension of tax deadlines e un pezzo del Recovery plan.
The green light for the extra deficit request will come together with the Economics and Finance Document which will update the macroeconomic framework
The Council of Ministers, after a first confrontation, postponed the decision on the report to be sent to the Chambers together with Def. The meeting of ministers was called for Thursday at 2.30 pm. The premier Mario Draghi will start a round of consultations with parties to discuss the National recovery and resilience plan and it skeleton of the new decree with support and liquidity for businesses which should come in parallel with the decision on possible reopening.
A control room is not excluded on Friday to evaluate the Covid data
On Friday it is not excluded that there is a control room for the evaluation of Covid data and if there will be positive feedback, a discussion could be started on time schedule for reopening as early as next week new overrun of the 40 billion deficit – this is the entity indicated by the Minister of Economy, Daniele Franco – will be approved by the Chambers Thursday 22 April together with the Def, and after the green light the government should launch, between the end of April and the beginning of May, the new aid package which will allocate about 35 billion to businesses. A substantial chapter will be dedicated to liquidity with the extension of the loan moratoriums and on public guarantees for which the comparison with the European Commission.
For refreshments real could be put in campo 20 miliardi but will depend on the Street and come on parameters that you will choose to adopt. The payment mechanism will be replicated non-repayable contributions but the calculation system will change: they will be parameterised over two months and not on just one as provided by the Sostegni decree.
Companies and VAT numbers they will also be compensated for the fixed costs incurred, like bills e rentals. Should be refinanced on tax credit for leases and the Imu cut on capital goods and a further postponement of the Tosap and Cosap exemptions for another six months.
To complete the 36 billion aid package, tooand a billion for the reliefs to the companies they hire with a fixed-term contract of one or two years: the benefits will be intended for those who will return to the world of work i unemployed, workers on layoffs or citizenship income earners.
Also expected a new postponement of tax deadlines which should only concern the activities in crisis which could also benefit from an extension of the blocking of evictions. The extra deficit will also serve to cover part of the works excluded from the Recovery plan, or those ‘redundant’ projects compared to the 191 billion available to the NRP, and which are in any case considered valid. It will be constituted a kind of ad hoc fund of around 30 billion, to be spread over six years, financed in deficit, for an average of about 5 billion a year.
The skeleton of the new economic support plan is taking shape in parallel with the new framework of accounts which will also be updated in light of the further deficit request and will take into account the positive impact of the Recovery plan starting from the current year. There contraction waiting in first quarter should lead to a rdownward analysis of GDP between 4 and 4.5% compared to the 6% target set in the autumn, with a carry-over effect on net debt. The first deviation from 32 billion with which the Sostegni decree has already brought the forecast of the 2021 deficit from the 7% target, indicated in the Update to the Def, to 8.8 per cent of GDP. Now, with the new request of extra deficit, the bar should rise towards 11%.
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