A 750 billion support for businesses was announced by the Italian government.
The ‘Cure Italy’ degree is made up of 200 billion loan guarantees and 200 billion for exports which adds to the 350 already planned, with the arrival of up to 100% coverage for loans up to 800 thousand euros .
Apart from this, the Italian government announced the postponement of tax deadlines for companies damaged by the crisis.
“With the decree just approved, we are giving immediate liquidity of € 400 billion to our companies, € 200 billion for the internal market, another € 200 billion to boost the export market. It is a firepower”, said the premier Giuseppe Conte says in a press conference after the cabinet meeting of Monday.
“We have approved the suspension of various tax payments and contributions and are also withholding for the months of April and May.”
“We have adopted a very effective tool to protect all companies that carry out some strategically important activity. By strengthening the golden power we will be able to control corporate operations and hostile takeovers not only in traditional sectors, but in the insurance, credit, financial, water sectors , health, safety. It is a tool that will allow us to intervene if there are acquisitions of equity investments just over 10% within the EU “.
“The state will offer a guarantee that the loans will take place quickly, quickly. We will strengthen the central guarantee fund for SMEs and add state funding through Sace, which remains within the perimeter of Cassa Depositi e Prestiti, for small and medium-sized big companies”.
“When everything is over there will be a new spring, soon we will reap the fruits of these sacrifices.”
“It would be irresponsible to go around and loosen trust and responsibility” at Easter, says the premier. “Easter means passage from slavery and also redemption: we hope it will bring us this freedom. I live this holiday with faith, as redemption. We hope that in a more secular version it will be a passage towards a definitive redemption”.
“We are working on a much more substantial intervention to be carried out already this month, with a systemic approach for all suffering categories. This is an emergency not only for health, but for the economy and the social at the same time. The April dl will contain protection tools social, support to families and workers, especially those most in difficulty “, says the premier.
The government has launched “an unprecedented intervention” with a “massive mobilization of public resources” to give “a powerful guarantee to preserve our production system to overcome this difficult moment and be able to relaunch itself”. Thus the Minister of Economy Roberto Gualtieri at a press conference at the end of the CDM explaining that with the April decree there will be “30 billion in support of these guarantees”.
“We put in place a 200 billion guarantee for loans up to 90% guaranteed by the State without turnover limits, for companies of all types. They can reach 25% of companies’ turnover or double the personnel costs with a delivery system very simple and direct to the banking system, through Sace, with limited conditionalities including that of not being able to pay dividends, “said Gualtieri.
“We thought of two possible options that will allow students to take the exams according to the real learning thanks also to the work on distance learning. We made the school year safe. However, you cannot absolutely speak of six politicians: they are old categories, the evaluation look at the growth and maturation of the student, who is placed at the center. If there are learnings to be recovered, they will recover them in September “. The Minister of the School Lucia Azzolina said during the mentioned press conference.
Via ANSA
