Has just been launched in the spending review that should lead to cuts for 25 million euro on the horizon already facing a new proposal for cuts in autumn . Moreover, the situation has really contours far from rosy. With the GDP at -2.5% and public debt rising steadily, has already thought of running for cover with new anti-debt movements.

But why do they make it so necessary so soon after the first great cut? The answer is simple, but unfortunately very little positive. The state owes to its creditors Italian (small investors, foreign governments, large financial realities, etc) a sum of € 1.96 trillion , a figure nothing short of astronomical. To honor the debt to those who believed in the markets and has invested, is not a little cash. But the same debt, to be honored without any problems, it should be found in a balanced relationship with the GDP of the debtor country. According to the “Stability Pact”, a document behind the creation and promulgation of the euro, the report should not exceed 60% but today Italy is around 120%. The spread then, on the other hand, with its ups and downs does not make the situation worse.

tax-papers

To try to restore as much as possible far from encouraging this context, the European Union has determined that this annual report now exorbitant decreases by 5% and to do so, the first spending review alone is not enough. Here then in what consist the new planned cuts, perhaps, since September. It begins with the sale, already underway, some public buildings. Following the revaluation of concessions (such as those for bathing) and the sale of the state shares listed or not listed on the stock exchange (we speak then of big names like Encl, the Italian and so on).

Employers’ liability insurance professionals will also be bolstered by further sums of money to invest in government securities and funds held illegally in Switzerland will be taxed at a 25%-off and then a run-rate of 20% annually. What remains to be seen is how it will be possible to calculate the percentage of a tax base unknown. Through various incentives and disincentives, then, we will try to stretch as much as possible the amount of time to the debt while significantly decrease the funding of political parties, trade unions and other public expenditure. From this it would seem that taxpayers are affected to a lesser extent the spending review but the first of them lies a new danger that is, the possible cutting of many tax incentives.