CONFIMI PUGLIA: “IMMEDIATE MEASURES AGAINST ECONOMIC PANDEMIC”

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The statement about the immediate measures against the economic pandemic by Confimi Puglia.

The pandemic crisis has hit Italy at the height of an economic situation that has been totally untenable for decades. Tax wedge is out of control, bureaucracy is suffocating and there is little capacity to use huge European resources. So much so that the main industrial groups have moved their registered office abroad. Paying taxes in the most convenient tax havens.

It is therefore necessary to intervene in support of companies that have remained here to produce and innovate, giving jobs and income to millions of citizens. Private, under-capitalized, small and medium-sized companies that pay their taxes here. They make up 90% of the country’s economic fabric. To do this, that is to say to allow an effective restart of the economic system, it is necessary to inject an extraordinary liquidity in the system of the enterprises. Through the following four points.

How to inject liquidity into the business system

1. The Public Administrations, central and peripheral, must immediately pay their debts to the enterprises and start without any more delay all the yards and the works previewed in the public programs;
2. Cut taxes, taxes and charges for businesses until December 2020;
3. To allow the opening by banks to the companies customers, of loans at minimum rates, up to 30% of turnover 2019 (that is according to the number of employees), supported by public guarantee and redeemable over a medium/long period of time, and to extend exposures to cover defaults;
4. The borrower companies must be granted the automatic right to suspend the payment of the principal by continuing to pay the interest calculated on the remaining debt at the agreed instalments.

Click here to read also the letter on the needs of the mechanical world of Carlo Pellicola, Management director of Molitecnica Sud and President of Confimi Meccanica Puglia.

Click here to visit the website of the Confederation of Italian Manufacturing Industry and Private Enterprise Puglia section.