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Apart from transforming Italy thanks to the resources provided by the Recovery Fund. The Giallorossi government will use part of the money from Brussels to pay for the hole in the water caused by the refund of money, the program designed to reward those who make purchases in physical stores through electronic payments.
In the latest version of the Italian resilience plan we find an expense, equal to 4,750 million euros, aimed precisely at promoting electronic payments. Calculator in hand, we are talking about an amount equivalent to half of what will be allocated to health care in terms of proximity care and telemedicine.
As the newspaper pointed out The messenger, And denarius of Recovery Fund they are nothing more than a loan from the European Union. A loan that, sooner or later, will have to be repaid. But there is more, because it is the cashback itself that has turned out to be a real disaster. By combining the points, the executive has seen fit to cover one of his failures with the aforementioned Recovery. Too bad the European life preserver could have been exploited in a somewhat better way.
In any event, the Italian government hoped to facilitate the electronic payments, bringing them closer to the levels registered in the rest of Europe. The mission, for the moment, has failed miserably. At least judging by the feedback from the Christmas refund experiment. In the first two weeks of its existence, the system attracted just over 5 million Italians. That, since December 23, have matured an average of barely 18 euros each.
The failure of cashback
Although the measure launched by the executive has even been criticized by numerous exhibitors, Palazzo Chigi is convinced that the cashless plan constitutes a reform according to the infamous EU recommendations. In theory, according to various independent estimates, the cashback could generate additional income in the state coffers equivalent to 4.5 billion euros by 2025. However, reality has shown that, perhaps, something needs to be revised.
However, the government goes its own way. The executive has planned a spending of 1.75 billion in 2021 and 3 billion in 2022, as well as 228 million for the Christmas extra cash. It is true that to cover this experiment, Italy will go to get into debt with Europe. And all to finance 10% refunds on cashless payments. The reason for so much stubbornness? Double: fight against tax evasion and modernization of public administration.
The recent Christmas cashback disaster has not attracted Italians at all. We remember, in fact, that around 5.3 million people had signed up for the program. Too bad the government has allocated 228 million euros. In other words: the maximum repayable amount did not exceed i 43 euros. A figure clearly lower than the maximum of € 150 initially established.
