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Super-amortization of investments won’t be renewed in 2017, Italy PM Renzi hints

by Luca Orlando

“Invest now, it’s the right time. Also because so far the idea is to not renew the super-amortization in 2017,” Italian Prime Minister Matteo Renzi told machine-tools entrepreneurs at a private meeting in Chicago, before going on with the institutional meetings of the day, in a stop-over during his journey in the United States.

Renzi was replying to an observation from the audience ”businesses don’t need money, but rather less red tape,” said one of the entrepreneurs.

”I see your point,” Renzi said with a smile, ”but also money doesn’t hurt, and this is why I suggest you take advantage of the super-amortization on investment goods that I don’t think we are going to confirm in 2017: those of you who want to invest should do it now.”

Renzi spoke freely, and the result was a very optimistic speech, also thanks to the positive results of Made in Italy’s performance in the US with the new record for exports (especially due to the leap of mechanical engineering).

The occasion for this speech is the summit organized by the Ministry for Development, Ucimu-Sistemi per produrre, ITA and Confindustria with the aim of exposing US manufacturing to the new technological trends applied to factories, extolling the targets achieved by Italian companies working in the same sector.

“We are working very hard in order to reach a turning point in Italy,” Renzi said. “And something is changing, there are strong signals to confirm it.”

Renzi recalled debt stabilization, the lower deficit of the last 10 years (“we have had enough of jokes on public finances that I hear on TV,” he said), the renewed political stability “that make us reliable at an international level.”

If Italy comes back, there’s enough for everyone: this is the prime minister’s message. A “come back” that according to the prime minister must invert the trend of the last years, with “decades of missed occasion because we weren’t able to team up.”

Now, he said, we have all the conditions needed to become once again a leading country not only in Europe within the next 20 years. And in this sense, globalization represents a chance to make Italy gain an “extraordinary dividend.”

Expo Milano 2015 and the restoration of Pompeii represent a turning point to start telling the country in a new way, “defeating submission and victim complexes, talking about construction sites and not cracks, describing the Italy that really works.”

“We have wandered around the world just talking about our problems for ages,” said Renzi. “It’s like a business owner saying to potential customers: my product sucks. How can it works? There are some problems in Italy, but we need to get over them.”

Renzi ensured the daily commitment of the Italian government, “until the 2018 elections” but he also asked a widespread support. “The government is not going to make it by itself, we haven’t a magic wand, we all need to help it. We must work without squabbles, without divisions, and taking this flag around the world. Our aim is to bring Italy back where it belongs: the vertex.”


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