clarify who will come the margins of the Maneuver- Corriere.it

This time, thanks to the handover in progress, a mere photograph. Trend, not programmatic. It is taken now, it cannot predict what will happen tomorrow because it will be up to the next government to set the budget law, albeit with a much shorter time frame than in the past. For this reason, the programmatic budget document, approved yesterday by the Council of Ministers, could not solve the problems concerning the scope of the interventions that the next executive will have to put to the ground to alleviate the expensive energy for businesses and families. Much less can he imagine the resources to be put in place: a choice that does not belong to a government that is running out. The text sent yesterday to the EU Commission (which should publish it today), respecting the deadline of 15 October, is limited to analyzing the public finance projections under current legislation for 2023. This is considering the economic policy measures in force, which for the energy expire between November and December and will have to be refinanced (or expanded) as the next center-right government sees fit.

There are, of course, some non-deferrable expenses. Overall they have a size of about 2-3 billion: these are mainly incompressible costs that also pertain to our international position, such as missions abroad in the operations of peacekeeping. There is also a rule that safeguards the subsidized interest rates on mortgages for under 35s, with the state guarantee issued by Consap. But clear that, as was the case for the Nadef at the end of September, the update note to the Economics and Finance Document, this document as soon as it is made known will lend itself to being analyzed in detail by those who take over Palazzo Chigi and the Economy because clarify the margins of maneuver for the next budget law. A budget that promises to be very complicated due to the energy crisis in which Europe, and therefore also Italy, has fallen.

On the other hand, the three decrees that have followed one another in the last few months forced the Draghi government to put over 50 billion on the table to alleviate the cost of bills. Yet the prices of gas, the main raw material for electricity generation, albeit slightly down compared to August, remain very high compared to last year, on an order of magnitude of ten times. Therefore, that treasure of about 10 billion will be used, determined by the positive trend of revenues, dragged by the VAT effect of this maxi-inflation. It will be necessary to finance the first measures. On the other hand, the next government is already starting with a mortgage for 35-40 billion, amid higher expenses to index pensions and the probable extensions of the tax wedge cut and aid to businesses and families. But it will be necessary to continue to sterilize these energy costs, continuing with the elimination of system charges, probably relaunching another social bonus for the month of December, imagining an installment or even a moratorium on bills.

Today the IMF will release the annual report on the global economy, with a particularity: for the first time in 40 years, Italy will grow more than China. But the slowdown in Beijing contributed to the result.