Canceling the Imu on first homes without introducing new taxes means only one thing: cutting. And the time has come for the government to take up the scissors. Almost one billion euros will come from the spending reductions of the ministries, but it certainly won't be enough. On balance, to make ends meet it will be necessary to find around 5 billion with the stability law (to be launched by mid-October) and as many will be needed in 2014.
We begin with the cuts to 11 ministries: goodbye to 300 million for "functional expenses". Another 250 million will come from the reduction of the employment fund ("it wouldn't have been used anyway", Prime Minister Enrico Letta justified). Then a "definancing" of 300 million to the railway network, while 55 million will be subtracted from a maneuver by the 2008 for hiring law enforcement officers.
Anas will give up 35 million and the 20 million allocated by the 2005 budget for the hiring of financial police will also be reduced. 50 million already cut by the last stability law for defense, interior, justice and economic personnel will then disappear. In all, the cuts to ministries amount to 975 million.
The Treasury announced that without the first Imu installment, the requirement for August shot up to 9,2 billion, from 5,9 in 2012. And the Undersecretary for the Economy Paolo Baretta revealed to Radio24 that "within the next month, and in any case with the Stability Law, the Government must find two billion for the second installment of the Imu, one billion for VAT and another billion or so for the Redundancy Fund and for the refinancing of missions abroad, hoping that no other emergencies are added".
So far only 2013. Looking to next year, the picture becomes even more complicated: two billion will be needed for the Imu, two to lighten the forthcoming service tax (which will have to be less than the sum of the Imu and Tares overall), one billion and half for the IMU deductibility for businesses, a billion to avoid the VAT increase, at least 400 million for the refinancing of missions abroad and two billion to finance the non-increase in health care charges. The time for scissors has just begun.
