Franco promises more aid for VAT numbers. Treasury of 4 billion

Mondadori Portfolio via Getty Images

The minister of Economy Daniele Franco during the press conference after the minister’s cabinet. Rome (Italy), May 20th 2021 (Photo by Samantha Zucchi/Insidefoto/Mondadori Portfolio via Getty Images)

Use the ‘treasury’ of about four billion that emerged for applications lower than the estimated non-repayable contributions to VAT, “for the summer intervention based on operating results”, raising the threshold for access to aid up to 15 million in turnover.

The Minister of Economy Daniele Franco, with the data arriving from the Revenue Agency that are beginning to shed some light on the audience of shops, restaurateurs, tourism operators who have applied for the non-repayable aid of the ‘Sostegni’ and ‘decrees Sostegni Bis’, outlines the summer intervention that will be focused on these categories, the most affected by the pandemic, after having qualified the latest economic decree as essential to avoid “permanent damage to the economy” and in the wake of economic forecasts that improve: “it is probable that if everything continues at the pace of recent weeks, on the economic and health aspects, the annual forecast of GDP could be revised upwards”.
An opening to better review the estimate of 4.5% growth in 2021, which comes after Istat, various study centers and most recently Confindustria.
At the hearing of the Budget Commission of the Chamber on the Dl Sostegni Bis, Franco explained that the requests for non-repayable support from VAT numbers, expected at 3 million, were lower and “from the Revenue Agency a number of applications emerged under two millions”. The estimates, progressively lowered from the initial 11 billion, would give additional availability of 4-5 billion. The Dl Sostegni Bis already plans to use additional resources to raise the number of beneficiary VAT numbers, bringing the threshold of access from 10 to 15 million in turnover. The next intervention, with four billion that would be distributed at the end of the summer “, is that for VAT numbers commensurate with the loss:” the hypothesis that I would personally formulate is to use this margin, which we will see how large in two weeks, for the ‘summer intervention calculated on the results of the year – – Franco explains to the parliamentarians listening – so the four billion should become a more considerable figure ”.

A strengthening of the non-repayable component that comes while the Bank of Italy gives the government measures ‘green light’. In a hearing on the Sostegni bis decree, Fabrizio Balassone, Head of the Economic Structure Service of Via Nazionale, assured that the measures “seem sufficient”, with the support for production activities in 2021 increased again compared to 2020, containing less than 100 thousand the number of companies in liquidity crisis against the 140 thousand that would otherwise have found themselves in difficulty. Measures of “exceptional size” necessary to counter the pandemic shock, said Balassone, recalling that “public intervention will have the difficult task of becoming more selective, focusing on the sectors that will suffer from difficulties related to the health crisis for the longest time, supporting and accompanying those who will still be unemployed towards a new job ». In confirming the expectations of a 2021 increase in GDP over 4% already anticipated by Governor Visco, the head of Bankitalia assured that “robust growth” is expected for the second half of the year.


Source: Huffington Post Italy Athena2 by www.huffingtonpost.it.

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