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Balanced budget in the Constitution, but only if there is no recession

Today the bill arrives at the Deputies to insert the obligation in the provisions of the Charter - Article 81 will be completely rewritten - But in the event of "exceptional events or a serious economic recession", the State will still be able to resort to debt, provided the two classrooms approve it with an absolute majority and a repayment plan is defined.

Balanced budget in the Constitution, but only if there is no recession

A balanced budget, a principle to be fixed in the Constitution: the Chamber of Deputies starts today at 15 pm the general discussion on the reform of article 81 of the Charter with the constitutional bill. The final vote is scheduled for next Tuesday.

"It is the first provision to which the Chamber is dedicated after the government took office. It is the demonstration that this is a matter of great importance for the life of this Government, which we intend to bring to a conclusion as quickly as possible", notes the Minister for Relations with Parliament, Pietro Giarda, who announces that he has already taken contacts with the offices of the Senate so that the text, once fired by Montecitorio, can immediately continue its process at Palazzo Madama.
 

The bill is the result of the unification of several legislative proposals. There are five articles in all. The heart of the provision is in the first article, with which article 81 of the Constitution is totally replaced, establishing that "theo The State, in compliance with the constraints deriving from the European Union legal system, ensures the balance between the revenues and expenditures of its budget. The balance of the budget is ensured by taking into account the adverse and favorable phases of the economic cycle, providing for preventive and final checks, as well as corrective measures".
 

However, exceptions and derogations are envisaged, expressly introduced by the work of the parliamentary commissions: "Recourse to debt is not permitted except in the event of the occurrence of exceptional events or a severe economic recession which cannot be tackled with ordinary budgetary decisions ”. Recourse to debt is authorized with compliant resolutions of the two Chambers, adopted by an absolute majority of the respective members, and must be accompanied by the definition of a repayment path.
 

It is also specified that in adverse phases of the economic cycle or upon the occurrence of exceptional events or a serious economic recession, the State must contribute to guaranteeing, where necessary, the financing of the essential levels of services concerning civil and social rights, which must be guaranteed throughout the national territory, as well as the fundamental functions of Municipalities, Provinces and metropolitan cities. 

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