The highlight is the extension of the aid against the energy price increases to contain the sting at the end of the year. While it has limited effects theincrease of the tax wedge cut which was already in effect until December for employees with incomes under 35 thousand euros, despite the fact that during the council of ministers it was strengthened, reaching the current 0.8% to 2% overall. The other chapters of the Aid decree bis launched Thursday by the council of ministers concern the bonus 200 euros – which will be paid, always once, to the categories that were excluded in July – and the pensionswhose partial revaluation is brought forward to October. Nothing done for the VAT reduction on basic necessities, clamored by the League. The blanket of just over 14 billion offered by the higher revenue – “plus 2 additional measures,” the premier said Mario Draghi – it was too short, thanks to the flop of the tax on extra profits (from which a deposit far higher than the amount actually collected was expected) and the need to restore frozen ministerial funds to finance the previous bill cut decree. The government in office for current affairs has concentrated most of his resources on extending measures to cope with increases in electricity, gas and fuel. And, as complained by Minister Bonetti, to recover funds she has reduced by 630 million euros the appropriations for the single allowance for children.
The increase in the cut of the tax wedge – From July 1st to December 31st the cut of the tax wedge for employees with incomes under 35 thousand euros that was introduced since January in parallel increases by 1.2 percentage points “exceptionally” – against 1 point foreseen by the drafts with the disputed first part of the Irpef reform which mainly benefits i medium-high incomes. The increase from 1 to 1.2 points of the additional cut was decided after the strong criticism of the unions, which had found that the earnings stopped at a few euros a month. The extra effort doesn’t change the situation much.
Advance of the revaluation of pensions – The revaluation of pensions to inflation in 2021, which should have taken place next January, is brought forward “by two percentage points” to October. The cost measure will be offset, in 2023, with a corresponding reduction of two points in the revaluation rate. According to the calculations of the unions in October the checks will rise by figures between 10.49 euros more gross per month for minimum pensions and 51.39 euros gross per month for those equal to 5 times the minimum. An average pension of 952 euros per month would have an increase of 19 euros gross.
Bonus 200 euros to those who have not taken it in July – The 200 euro bonus taken in July by employees and retirees with incomes below 35 thousand euro will be recognized to sports workers and to those who have not benefited from it because “affected by events figuratively covered by the INPS”, such as maternity, illness or layoffs. The one-off will be paid by the employer a October. The proposal put forward by Minister Orlando to extend the bonus to doctoral students and research fellows and to retired workers from July is currently undergoing technical verification. The Fund to support the purchasing power of self-employed workers, who are still waiting to know how much they will be entitled and with what requirements, is then replenished with another 100 million, reaching 600, a ministerial decree is needed.
Measures against energy price increases – The more substantial package, as mentioned, concerns the extension of the measures against energy price increases. The cut of the excise duty on fuels it is only extended until 20 September (it would have expired on 22 August): then the future government will have to think about it. Instead, it will last until the end of the year 5% cut of VAT on gas.
The social bonus for electricity and gas for economically disadvantaged domestic customers (Isee under 12 thousand euros) and domestic customers in serious health conditions in the fourth quarter of the year will have to be reformulated – toArera the task of redetermining the facility – for “keep unchanged compared to the quarter preceding the subsidized customer spending corresponding to the typical profiles of the holders of the aforementioned benefits “.
To reduce the effects of price increases in the electricity sector, Arera “will cancel” also for the fourth quarter of 2022 “the rates relating to general charges for the electricity system applied to domestic and non-domestic low voltage users, for other uses, with available power up to 16.5 kW “. The same applies to those “with available power exceeding 16.5 kW, also connected in medium and high / very high voltage or for public lighting or charging electric vehicles in places accessible to the public”.
The lion’s share, however, goes to aid to energy-intensive companies, to which they are destined 3.4 billion to recognize another “extraordinary contribution in partial compensation of the higher charges incurred, in the form of a tax credit, equal to 25% of the expenses incurred for the energy component purchased and actually used in the third quarter of 2022 “. The tax credit “is also recognized in relation to the expenditure for electricity produced and self-consumed in the third quarter of 2022”.
Finally, any contributions from companies for the payment of domestic users of the integrated water service, electricity and natural gas will fall within the rules of the corporate welfare. These items will therefore also be among those that do not contribute to the formation of income, up to the limit raised again to 516 euros also for 2022.
The rules still hanging in the balance – In the drafts – it is not known whether it was confirmed in the cdm – it was also expected that until 31 October the companies electricity and gas suppliers they cannot unilaterally modify the general terms and conditions relating to the definition of the price “even if the right of withdrawal is contractually recognized to the counterparty”. According to Utilitalia, the Federation of Water, Environmental and Energy Companies, “risks having traumatic effects on the electricity and natural gas market, with the risk of default for supplying companies and serious damage for end users”. Another “hanging in the balance” rule (the drafts indicated that it was subject to “political verification”) is the one concerning the obligation from January 2023 for providers of the last resort service to “offer to vulnerable customers the supply of natural gas at a price that reflects the actual cost of procurement in the wholesale market, the efficient costs of the marketing service and the contractual and service quality conditions “, as defined by the Arera. Customers would be considered vulnerable “economically disadvantaged, disabled, residing in non-interconnected smaller islands or in an emergency home for disasters, or those over 75 years old ”.
Refinancing for the psychologist bonus – Are refinanced on psychologist bonusfor which the applications arrived in a single day have largely exceeded the funds available, and the bonus transport inserted in the previous aid decree. For the first there are 15 million more while for the bonus for public transport passes, 101 million more are allocated, from the original 79 million.
A new save Ilva – Even the Draghi government must put new resources in the former Ilva. Invitalia is “authorized to subscribe to capital increases or various instruments, in any case suitable for capital strengthening, also in the form of shareholder loans for capital increases, additional to those envisaged in previous periods and up to a total amount not exceeding 1,000. 000,000 euros, additional “to those envisaged. It is not clear whether the billion will be used only to guarantee operations or even to rise to 60% of the capital of Steelworks of Italyjv with ArcelorMittalwhich was foreseen in the plan signed with the multinational but which the government had decided not to do in May.
1.3 billion more at the Milan-Cortina Olympics – The fund for the Milan-Cortina Olympics increased by 1.3 billion to cope with the increase in the prices of raw materials. The draft of the bis aid decree provides for this. In detail, 180 million euros are for 2022, 240 million for 2023, 245 million for 2024, 195 million for 2025, 205 million for 2026 and 235 million for 2027. The increase, according to the provision, “900 million is destined for the interventions of the National Plan for complementary investments to the NRP” and as for 400 million for the construction of the works.
The remains of Alitalia – The proceeds from liquidation activities of Alitalia in extraordinary administration must be primarily intended for the satisfaction of receivables from the State “net of the costs of completing the liquidation and the costs of the structure, management and operation of the extraordinary administration, as well as compensation to holders of travel tickets, vouchers or similar securities issued by the extraordinary administration “.