The challenge of the economic situation, the choices of European industrial policy and the Budget Law: these are some of the fundamental themes in the letter and Alessandro Spada, President of Assolombarda, addressed to local entrepreneurs, at the end of a complex year and with an eye on 2025.
In his message, Spada celebrates the achievements of the companies of Milan, Monza and Brianza, Lodi and Pavia, which in recent years "have contributed decisively to the regional GDP numbers so much so that, if we consider the Lombardia as a national economy, out of the 27 countries of the European Union, it would be tenth in terms of GDP". This has allowed theItaly, especially after the pandemic, to achieve "a 'small economic miracle', with a growth greater of the global one as a whole, of the Euro-area, as well as of the average of the advanced countries”. And he adds: “We remain a territory that expresses a solid industrial model, based on quality, innovation, diversification and with a strong international projection”.
Urgent need for a visionary industrial policy for European industry
But the future, according to Spada, is not without shadows. ” The 2025 It will be a particularly special year complex. If the international economic and geopolitical context is a factor to take note of and adapt to, this is not the case, however, with regard to the lack of a long-term, pragmatic and visionary industrial policy at European and national level”.
The president of Assolombarda does not hide his Concern for Europe of the previous legislature: “the Europe of the previous legislature has endorsed and built the regulatory system to self-destruct its, and therefore our, flagship: the car. An industry that represents up to 7% of the European Union's GDP. The economic, political and social crisis is assured. We see it today in Germany, in France and, at least in part, in Italy”.
For Spada, it is urgent to act: “eliminate fines for European producers for the unmet goals in electric since 2025 ed remove the ban on internal combustion engines by 2035”. But not only that: “we need to act following the three principles for a truly sustainable and competitive transition: technological plurality, graduality, scientific objectivity”. Added to this is a strong appeal to “invest much and well in European champions, in innovation, especially in sectors undergoing profound transformation, in those hit by ruthless and unfair competition, in the industries of the future. To safeguard our pillars of liberal democracy and welfare. To strengthen our strategic autonomy. But, first of all, - he concludes - to avert the risk of decline of our industrial power".
For Spada, it is essential "aMore industrial Europe than we have seen in recent years”. The president, in the letter, cites the main events of the next European legislature: the Competitiveness Compass and the Annual Report on the Single Market, the Clean Industrial Deal for competitive decarbonisation, the Omnibus package for regulatory simplification to the advantage of businesses, in particular on sustainability issues. “With these three events we will understand the direction that the new legislature will want to take. We are waiting for the Draghi Agenda to be implemented”.
Tax reforms and strategic investments for the future
Moving on to Budget Law 2025, Spada does not appear to be fully satisfied: "We are only partially satisfied with the Budget: it is good that the tax wedge cut has been made structural, just as we are satisfied that they listened to us and therefore did not include the rule on MEF auditors in companies. On other aspects, which affect the country's industrial policy, we expected more: the blanket is short and precisely for this reason, directing strategies and resources to strengthen the competitiveness of our companies is vital".
Spada appreciates the Transition 5.0 changes, but expresses concern about its complexity and the tight timeframe for implementation. Furthermore, it reiterates the need to allocate resources to Industry 4.0, which, according to him, is weakened by the Budget. "The tax credit 4.0, in fact, will have a coverage of only 2,2 billion euros for 2025 against the more than 6 billion that are normally used. But not only that, software is eliminated from the benefit. A choice that goes against the trend today when we are called to focus on Artificial Intelligence, data, cybersecurity".
Finally, Spada comments on the request of the Confindustria system on Ires Premium, highlighting the difficulties introduced by the final version, which imposes strict requirements which risk reducing the effectiveness of the measure: "The Government has accepted our request and this is certainly positive. However, compared to the proposal put forward by Confindustria, the final version requires companies to comply with numerous and stringent requirements, which have nothing to do with the objective of the measure itself. Among these requirements, for example, the renunciation of the redundancy fund for the two-year period 2024/25 and the fact that investments must not be less than 24% of the current operating profits in 2023. With this approach, we fear that the measure will be less effective".
In conclusion, Spada hopes that in 2025 we will work together, at national and European level, to define "a pragmatic and visionary industrial policy, with certain, streamlined and stable rules over time, to avoid in every possible way the risk of decline of our industrial power".
