Green light to the Support Decree bis, which includes 40 billion euros of measures, of which 20 billion in additional refreshments (over 15 billion in grants). In the package there are also measures for liquidity, the refinancing of the emergency income of another four months, news on work (hiring bonuses from 6 thousand euros), tax authorities (stop at tax assessments until 30 June) and banks, and new funds for healthcare and the fight against Covid. “There will be a rebound in GDP as early as the second quarter,” he commented Prime Minister Mario Draghi in presenting the measures to the press at Palazzo Chigi. “Reopenings and the restart are accelerating thanks to the success of the vaccination campaign – continued the premier who rattled off some data, including 80% coverage also for the over 70s, after the over 80s -. For refreshments we have adopted new criteria, which allow us to help 370 more VAT numbers. 26 billion are destined for businesses, 17 of support and 9 for credit aid. To receive this money we have introduced a new criterion: in addition to the turnover, we also consider the profit. This is important, although it will take longer because ascertaining profit takes longer. Will this aid decree be the last? If the pandemic situation improves as it is doing, there will be no need for further action. The best support is reopening ”.
Here in detail.
RESTAURANTS
As regards aid to businesses, non-repayable aid amounts to a total of 15,4 billion. In detail: for the automatic refreshments identical to those of the first support decree, 8 billion euros have been allocated, for those (alternative) that emerge from the comparison of the turnover between the period from 1 April 2020 to 31 March 2021 and the period from 1 April 2019 as at 31 March 2020, 3,4 billion have been allocated, while for the so-called "adjustment" refreshments calculated on the result for the year, the funds amount to 4 billion euro. The decree also allocates one hundred million for 2021 to support closed economic activities: the measure concerns the activities for which closure has been ordered between 1 January 2021 and the date of conversion of the decree, for at least four months.
TOURISM AND AGRICULTURE
The funds allocated to the tourism sector are 3,340 billion, in addition to the one billion and 700 million of the Support Decree. Specifically, resources are provided for the mountains, operators, cities of art, seasonal workers, tax breaks, the tax credit for lease payments and the bis tax credit. Aid for 150 million aims to support travel agencies and tour operators, tourist guides and businesses in the sector. The extension of the holiday bonus has also been confirmed. also provided a package from 2 billion for agriculture. For the workers' allowance, the allocation is 448 million; 72,5 million euros are envisaged for the exemption from social security and welfare contributions of employers and self-employed workers of farms belonging to the agritourism and wine-growing sectors, including wine and beer producers; 27,5 million euros for support for animal husbandry through the increase to 9,5% of the VAT compensation percentages applicable to the sale of live cattle and pigs.
LIQUID ASSETS'
Among the other interventions included in the provision, the extension to 31 December of the measures for the liquidity of companies and the extension from 6 to ten years of the maximum duration of loans with public guarantees. In addition, the tax credit for rents is renewed for 5 months, from January to May, for companies that have recorded losses of 30% between April 1, 2020-March 30, 2021 and the same period 2019- 2020, while the measure for tourist-accommodation companies, travel agencies and tour operators is extended until 31 July. A further 150 million are then allocated to reduce the costs of electricity bills and a 600 million fund is created for the Municipalities to reduce the Tari to activities closed by decree or otherwise affected by the anti-Covid restrictions.
SCHOOL
The decree gives the go-ahead to an accelerated competition, only for the next school year, to recruit about 3 teachers of science and technology subjects (STEM). Furthermore, a total allocation of 470 million is foreseen for the safe start of the school year in September. The acceleration on STEM subjects, we read, is in line with the objectives of the Recovery Plan and in detail it plans to assign 282 physics chairs, 1.005 for mathematics teachers, 815 for both subjects and 903 for science and information technologies.
BANKS
As regards the incentives for bank consolidation, unlike what was previously assumed, the Government has not extended or increased the tax incentives for business combinations, which remain those envisaged. However, the failure to raise bonuses would only seem to be postponed: it therefore remains on the agenda of the executive and will probably be included in some forthcoming measure. Meanwhile, the Sostegni bis allows banks interested in extraordinary operations to convene shareholders' meetings in 2022, and therefore the limit of 31 December 2021 only applies more to boards of directors: by the end of the year, any weddings will have to pass the examination of the boards, which will therefore have more time available than required by current legislation.
COVID AND HEALTH
Another 1,65 billion has been allocated for the activities of emergency commissioner Francesco Figliuolo, while companies that carry out research and development for innovative drugs, including vaccines, are entitled to a 20% tax credit, up to 20 million euros per year, of the costs incurred from 1 June 2021 to 31 December 2030. Finally, the autonomous regions and provinces can also provide for the involvement of private healthcare in the activity of administering vaccines.
ALITALIA
For the airline, the decree provides for a new loan of a maximum of 100 million euros, for a maximum duration of six months, granted "in order to avert the risk of interruption of the scheduled passenger air transport service and to ensure territorial continuity". There is no reference to Ita in the text. For the newco, the release of 800 million of the 3 billion already allocated had been indicated but a law would not be needed for the assignment.
