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(Jamma) The maneuver that Enrico Letta's government intends to implement by June is worth less than 8 billion, according to Treasury Undersecretary Alberto Giorgetti (PDL). "Certainly the VAT issue, which must be dealt with quickly, plus the other needs, pose the need for an intervention, let's call it whatever we want", Giorgetti told Radio 24.
We need "a few billion euros, I think under about 8 billion, which will have to be found in the next two months". Giorgetti added that the refund of the Imu paid in 2012 is 'complicated' and in any case we will talk about it again this summer.
Pier Paolo Baretta, undersecretary of the Treasury in Pd share, says that the government will give "urgent and immediate answers" on layoffs and Imu. Then, "by June", an attempt will be made to sterilize VAT (the ordinary rate of 21% will rise by one percentage point from July) and to extend the deduction to 55% on building renovations.
Speaking on the microphones of Radio anch'io, however, Baretta did not indicate how the Treasury intends to ensure coverage, limiting himself to saying that "it will not be possible to act on the tax front in any case".
The impact of the entire operation changes depending on whether the accrual balance sheet (indebtedness) or cash balance (requirement) is taken into consideration.
The unions are asking to allocate 1-1,5 billion to the Cig by way of derogation. Extending the deduction to 55% would require around 500 million, according to a ministerial source.
“The real crux is VAT. If you decide to suspend it just for 2013, it's 2 billion, if you decide to freeze it, it's 4”, recalls the undersecretary of the Democratic Party.
Therefore, the impact of the maneuver on the pertinent budget would be quantifiable at no less than 4 billion.
Then there is the Imu chapter on first homes: the government wants to suspend payments for June by compensating the municipalities with cash advances. The moratorium on payments would have a burden on the borrowing requirement of "just over 2 billion", says Baretta.
In cash terms, the maneuver would thus rise to around 6 billion.
Costs, coverage and intervention times remain to be quantified. According to the latest rumors that Jamma.it is able to report, the government is considering raising at least 500 million euros from the gaming sector.
