The extreme right continues to gain ground in Europe. It is now in a strong position across the Alps with the victory of the post-fascist Fratelli d’Italia party in the legislative elections. His economic program established with the other far-right formation, Matteo Salvini’s League, and Silvio Berlusconi’s conservative Forza Italia party has been singled out for several weeks for being considered irrational.
A review of the European recovery plan
This program contains, in particular, five main measures. First, it includes the full use of recovery plan resources, offsetting current delays in implementation. Specifically, the National Recovery and Resilience Plan (PNRR) would focus on “the modernization of the infrastructure network and the construction of large works”, “the reinforcement of the network at full speed” as well as “the expansion of the ‘ ultra broadband throughout Italy’.
As such, it is also considering an agreement with the European Commission, as established by European regulations, to review the recovery plan in accordance with the new conditions, needs and priorities. In the context of the war in Ukraine and its consequences on energy prices, Giorgia Meloni wants the European recovery plan to focus more on energy and industrial policies. As for energy, the head of Fratelli d’Italia plans to put a cap on the European price of gas to reduce the amount of bills.
Youth employment measures
The person in charge of Fratelli d’Italia also wants to reduce the tax burden of families, companies and the self-employed and abolish the universal minimum income while the family quotient would be introduced in personal income tax. Finally, he provides for an increase in minimum, social and disability pensions.
Giorgia Meloni also wants to act on youth unemployment, which is particularly high in Italy. Her party thus proposes to promote apprenticeship contracts, internships, and reduce taxation on employment. In order to encourage the creation of companies among the youngest, Fratelli d’Italia is considering tax exemption in the first three years of a project for entrepreneurs under 30 years of age.
An excessively poor program
In terms of remuneration, the coalition program integrates the reduction of the wage gap between the sexes but also a fortnightly payment, every 15 days. Opposing “globalization without rules”, Giorgia Meloni wants to fight against tax evasion.
However, several voices are raised to denounce a program at an unsustainable cost, even in the ranks of the coalition. The former president of the Council, Silvio Berlusconi, believes that going back on the European recovery plan “would be illogical and dangerous”:
A concern shared by banks and rating agencies such as Barclays, Goldman Sachs, S&P and even UBS, whose reports show an explosion in deficits if the electoral program is applied.
Source: BFM TV
