The new aid amounts to 10 billion. Towards the end of tax periods for companies

Counts to the Ministry of Economy went on into the night. With two objectives. The first: get more money, than those that are taken into account, give those who have passed in the last two weeks from the yellow zone to the orange and red, thus being forced to reduce or close their business. But also money for the purchase and distribution of anti-Covid drugs and for municipalities that are struggling with the food emergency. The second: prepare the money for a decree that will arrive in the next few days and that will have new aid in its belly and the postponement of taxes for November and December. The line rises to 10 billion. Two billion for the first goal, eight for the second. On the night of the Council of Ministers the task of putting the validation stamp on the Treasury scheme.

Beyond the decision on the details of the final installation, the work in via XX Settembre already has its own connotation: it incorporates the political issues that arose on Thursday night during the summit at Palazzo Chigi between Giuseppe Conte, the heads of delegation of the majority parties. and their respective economic managers. Because everyone, starting with the 5-star Movement and Italia Viva, highlighted the need to make more money available to companies affected by the crisis and restrictions. And give a strong signal on the fiscal front.

The economic strategy follows the one that has to do with the Dpcm, the colors of the Regions, and therefore with restrictions and closures. With this logic came the Ristori decree and then the second, the first on October 27 and the second on November 7, just ten days later. And now comes the Ristori ter decree, with a budget of 2 billion. Most of the resources, equivalent to 1,400 million, will be used to replace the 340 million fund that was planned two weeks ago for the color changes of the Regions. It is no longer enough. And also the extension of the tax credit on income and the postponement of some tax periods for VAT numbers. Then there are 400 million for “food solidarity” measures and 100 million for the purchase and distribution of drugs for the treatment of patients with Covid-19.

This third decree is already indicative of the need to realign the aid machine for the contagion race that is registered from the Dpcm of November 3 onwards. But this extra effort is not enough. And in fact on the table of the Council of Ministers is also the new budget gap, the fourth of March to the present. Because if it is true that the monitoring of the control room registered a national Rt up to 1.18 and better data in almost all regions compared to seven days ago, it is equally true that the progress has not led to a change in color towards the bass. The situation, also from an economic point of view, therefore remains uncertain and positioned at a level that still requires aid. More. Some issues, such as the November tax deadlines, are no longer framed in a situation of possible recovery. In other words: there is no room to keep your tax payments for this month. And, in a very close perspective, also those of December. More money is needed. The Treasury scheme foresees 8 billion, which is precisely the size of the budget gap. With this money, Ristori’s decree quater will be implemented. Practically immediately, as soon as Parliament has given the green light to authorize the deviation. The vote is already scheduled for next week and the new decree will come immediately thereafter.

Specifically, tax periods will be postponed: advances from Irpef, Irap and Ires to the end of November, but also social contributions and employee withholdings in mid-December and the VAT deposit on December 27. The Renzianos are pressing to include in the decree the balance and the statement and the postponement of the payment of the quotas of the scrapping ter. It remains to be decided whether the postponement will affect the damaged activities present throughout the national territory or only those in areas with more restrictions. The mechanism is still under study, but it should affect companies with a turnover of up to 50 million and with losses of at least 33%, calculating the decrease based on the comparison between the first semester of 2020 and 2019 in what Regarding the November deadlines. Although the comparison between November of this year and the same month of last year should be the basis for determining the losses to which the suspension of payments in December is linked.

So far the perimeter of immediate interventions. But there is already a new budget gap, between 15 and 20 billion, which will allow more money to be made available from January. The contraindication is a further increase in the deficit. Because the 2020 savings are over and the positive effect of the summer rebound and higher income are over. The chain of public accounts has yet to be retired.