The government is trying to fix the mess of the exclusion of government bonds from the ISEE calculation. A measure which in its current version would unfairly favor potentially very rich families to the detriment of the less well-off. Now the possibility arises of introducing a ceiling of 50 thousand euros for the amount of BTPs and BOTs that can be […]
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The government is trying to patch up the exclusion mess of government bonds from the ISEE calculation. A measure which in its current version would unfairly favor potentially very rich families to the detriment of the less well-off. Now the possibility of introducing a ceiling arises of 50 thousand euros for the amount of BTPs and Bots which can be excluded from the calculation. The change is not certain but it appears in the latest drafts of the maneuver. The rationale of the original rule could be to incentivize families to buy Italian government bonds at a time when market conditions are becoming more challenging. In short, a modern and updated version of “gold to the homeland” of Mussolini’s memory. Increase the share of total sovereign bonds in the hands of Italian citizens loosens the country’s ties with big finance but the way to go to achieve a sort of financial autarky on the Japanese modelit is very long and almost impossible to travel to the end.
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Today the share of Italian debt in the hands of families is just 10% (only in 2010 it was 23%). The Bank of Italy which physically purchases and holds the securities on mandate from the European Central Bank has jumped to 25%. Another 24% belongs to national banks and insurance companies, another 26% to international financial entities. On the other hand, exclusion from the ISEE introduces a solution of dubious constitutionality. The declaration is in fact also used to access more favorable rates in schools, kindergartens and healthcare. Without the ceiling that is being evaluated at this time and by way of example, anyone who has assets from 20 million euros in government bonds and had no other income, they could obtain the same preferential treatment as a family whose income stops below 15 thousand euros a year. He might even log in to tools to combat poverty like what little remains of the citizen’s income.
2023-10-26 19:45:36
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