Reformulation of the Bank of Italy's gold amendment, Giorgetti: "Political principle."

The Minister of Economy Giancarlo Giorgetti he claimed on the stage of Atreju the outcome of the meeting with the president of the European Central Bank, Christine Lagard, held yesterday in Brussels on the subject of Bank of Italy gold. The reformulation of the Brothers of Italy amendment, led by Malan, the minister announced, could arrive as early as tomorrow. The minister called the amendment “symbolic,” given that it is proposed amendment “number 1.1.” Therefore, endorsing the Prime Minister’s party line, Giorgetti clarified “directly” to Lagarde that “this political principle was right to be codified in Italian law.”

Regarding the issue of gold reserves, “there have been considerable discussions around a principle we believe to be elementary: the gold that serves as collateral for the currency, first the lira and now the euro, effectively belongs to the Italian people. Naturally, it is managed by the central bank,” Giorgetti explained, noting that he has seen “some rather suggestive things: a journalist asked Dombrovskis if we could use it to reduce the debt, but no one has ever proposed this.” Meanwhile, the budget bill’s hearing in the Senate chamber, scheduled for Monday the 15th, is likely to be postponed. The Senate Budget Committee will reconvene on the budget bill on Sunday, December 14th, at 11:00 PM. During the committee meeting, the government is expected to present further reformulations regarding hyper-depreciation and local authorities.

Ten amendments and part of the government’s so-called mini-maxi-amendment arrived yesterday. They touch on some of the key issues of the budget, from dividend taxation to the flat-rate tax on short-term rentals. Also included is a 12,5% increase in the rate for third-party car insurance for driver injuries, and a boost to supplementary pension plans, with the deductible rising to €5.300. The “rationalization” of expenses will cause RAI to lose €10 million annually for three years. The text revising the hyper-depreciation program for companies, extending the measure to a three-year period until 2028, is eagerly awaited. “We have based this on a series of amendments that had already been presented by parliamentarians, and we are supplementing them with the necessary coverage,” explained Deputy Minister of Economy Maurizio Leo.

Reformulation of the Bank of Italy’s gold amendment, Giorgetti: “Political principle.”

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