A 4-5 billion plan for cut the tax wedge. This is the fundamental chapter of the stability law that the Government will have to approve by the middle of the month. The most accredited hypotheses on the methods of intervention speak of three fundamental measures: cutting ofIRAP in favor of hiring companies, selective reduction of contributions Inail paid by companies and increase in Irpef deductions of 2,5 billion euros concentrated on the medium-low income brackets.
Ministry technicians are still very cautious about the benefits that the operation could bring to workers' pockets, but union sources argue that in the best-case scenario wages could increase by an average of 250-300 euros per year, even if more conservative calculations indicate a range between 120 and 150 euro. In any case, the increase would be almost imperceptible if spread over all the months, which is why it is assumed to concentrate it in a single paycheck, which could be that of June or that of July.
To date, the tax wedge absorbs an average of 46,2% of labor costs, of which 25,6% is paid by employers for social security contributions, while the remaining 20,6% is paid by employees. To take stock of how to intervene, the Executive has scheduled a meeting with the sindacati and one with the entrepreneurs. The first will take place today at Palazzo Chigi, while the second is on the agenda for the next few days.
The main obstacle, as always, are the covers. The Government must find a way to finance the reduction of the wedge without questioning the return of the 2013 deficit to 3% (from the expected 3,1, thus preventing Brussels from opening a new infringement procedure against our country) and without definitively compromising the possibility of canceling the second installment of the IMU as well.
At the moment, there are three channels to be exploited: the new spending review being examined by the working group led by Carlo Cottarelli, the imminent reorganization of business incentives and probably a reduction in tax expenditures, i.e. those 720 tax incentives that reduce every state revenue per year.
