The response of Padoan to the Eu: ‘Variance explained by the earthquake and migrants’ – LOOP.it

“outside of considerations on the economic cycle, the change in the target on the 2017 compared to the stability programme of the 2016 is largely explained by the exceptional costs linked to the risks on immigration and seismic“. And’ as it reads in the response of the minister of the Treasury, Pier Carlo Padoan, addressed to the Eu commissioners Dombrovskis and Moscovici, in regard to the remarks in Brussels on the new Budget law, which have focused just on the Italian request of the largest margins of expenditure to cope with the emergency migrants, and to the safety of the area post-earthquake.

With the manoeuvring face “events with exceptional measures for the earthquake and the migrants: on this last point, the effort in terms of investment is enormous, and it is to the benefit of Italy, but also and above all of Europe”, had already explained the minister of the Economy Pier Carlo Padoan.

“The Italian economy is growing in a difficult context, the debt continues to come down,” and “in this context, the policy of the government continues in the narrow road to support the development and consolidation of the budget set by the high level of debt”. With “limited resources”, he added, the quality of the measurements is even more important than the quantity.”

“Despite the efforts made at the global level for solid growth, sustainable and balanced”, it still does the minister of the Economy, the “economic outlook remains weak and exposed to significant downside risks”. In Europe, therefore, the growth remains “significantly below expectations”.

According to the minister, “in the face of a context of weak growth and “uncertainty”, with the Eu is “in crisis of credibility” that “is required in the Eu and in Italy a growth strategy-coordinate, essential to dispel the uncertainty.”

Padoan has confirmed, then, that the law of the budget, which will be sent shortly in Parliament, continues in the action of re-launching public investment” and “supports the growth”.

With the Budget law “in a context of fierce competition for the creation of quality human capital – said the minister – reinforcing the reasons to choose Italy, for example, introduce incentives such as exemption to 90%” of the income subject to Tax “for the researchers and 50% for employees, managers and self-employed move to Italy in his residence.”

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