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Palazzo Sigi: “Intensive manipulation, focus on low incomes and pensions” – The Economy

Palazzo Sigi: “Intensive manipulation, focus on low incomes and pensions” – The Economy

Within the framework of the sustainability of public finances, a serious maneuver focusing on middle-low income and pensions, family and health is a continuation of the work carried out by the government from the previous budget law. This is what emerged from the Palazzo Sigi sources, according to what we learned from the Majority Summit on Manipulation.

A climate of great cooperation and certainty of majority in view of the budget legislation. This is what we read in a note from Palazzo Sigi. Economy Minister Giancarlo Giorgetti explains the note that gave a report on the drafting of the law to be approved by the next cabinet on Monday.

A plea for “prudence” also takes into account the changed context of the conflict in Israel. The majority calls for further amendments to be kept to a minimum. As we know, this was the message delivered by Prime Minister Giorgia Meloni and Economy Minister Giancarlo Giorgetti during a double summit with Majority Leaders and Committee Leaders of the Chamber and Senate.

Household purchasing power and savings decrease – In the second quarter of 2023, disposable income of consumer households decreased by 0.1% compared to the previous quarter, while consumption increased by 0.2%. Propensity to save, already below pre-Covid levels for several quarters, is estimated at 6.3%, down 0.4 percentage points from the previous quarter. It was reported by Istat that despite substantially stable prices, the purchasing power of households fell by 0.2% compared to the previous quarter.

Istat, households’ purchasing power and savings decrease

Data on the purchasing power of households (-1.6% in 2022) published today by Istat “fully attests to the tsunami effect in Italy caused by high prices”. This is reported Codacons. “In 2022, citizens – the association underlines – despite the fact that the disposable income of consumer households increased by 5.5%, the purchasing power suffered a decline of 1.6%. This is due to the fact that prices in retail sales were very strong during the same period. Last year with inflation was on average 8.1%. With last year In comparison, the expenditure on final consumption increased by 12.6%, significantly affected by the effect of Covid and the restrictions in force in 2021. To support consumption – continues Codacons – Italians significantly affected their savings, household savings rose to 13.8% in 2021 ‘8.0% last year.”

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