That’s about 6.8 billion euros. how much is the total amount that 7.5 million Italians they will receive in paychecks between now and the beginning of July with the fourteenth month of their salary. How will this money be spent? Especially in consumption and in particular to pay for holidays, even if many workers will also use this treasure to pay the obligatory expenses. what emerges from the calculations of Confesercenti on the basis of a survey conducted by Swg.
Two billion for the holidays
Holidays, personal or family, should go to about 2 billion euros, almost a third (29%) of the total of the fourteenth. The remaining accounts (including arrears with the tax authorities, bills, stamps and overdue fines) will absorb over 1.4 billion (21%). Of these, in particular, approximately 531 million (approximately 8% of the total additional monthly payment) will cover debts with the tax authorities, while 903 million (13%) will be used for personal debts, bills, stamps and overdue fines. the weight of mortgages and loans is also important – highlights the analysis – to pay for which Italians will use 16% – over 1 billion euros – of their fourteenths.
For the balances 600 million
Those who await the fourteenth has already taken into account also to reserve a portion of their treasure to do some shopping as soon as the summer sales at the beginning of July, an occasion for which they will set aside 690 million euros, 10% of the total. A percentage just higher than that which will be allocated to healthcare costs (637 million, equal to 9% of the total), while the remaining items of expenditure would absorb 10%. In the end there will be very little to put under the mattress: the amount that is thought to be put aside as savings or to be allocated to investments is estimated at around 319 million euros, equal to 5%.
The 14th to retirees
The fourteenth month is due to pensioners with a monthly allowance of less than one thousand euros, which in Italy are about 3 million. The number was calculated by the Inac Patronage and by the National Pensioners Association of Cia-Italian Farmers, who recall the Inps circular of 24 June in which it is communicated that, together with the July 2021 installment, the additional sum will be paid to those entitled to it. This is a benefit that is due to INPS pensioners of private management and entertainment and sports management and to pensioners of public management with aand equal to or greater than 64 years in the presence of certain income requirements, and with a variable amount depending on the contribution with which the pension was paid. Retirees at a minimum, who already took it under the law n.127 of 2007, will be confirmed the fourteenth with an increase ranging from 437 to 655 euros.
Consumption at pre-pandemic levels
The arrival of the fourteenth could give an extra boost to household spending, explains Confesercenti. If we also consider the increase in savings by workers not directly invested by the pandemic crisis, the conditions for one summer season of recovery of domestic consumption at pre-pandemic levels there are. Fundamental consumption in a summer that, unfortunately, will still be characterized by the lack of foreign tourism, and the expense generated by this in the area, observes the association. There are some variables that could prevent the increase in availability from materializing into a real increase in household spending, starting with any new restrictions, notes Confesercenti. It is up to the government – concludes the association – in this delicate phase of transition, to favor the normalization of consumption, both with a reinvigorated vaccination plan and with choices of labor and tax policies, and to restore full trust to businesses and families: the path taken is the right one.
The Anp-Cia does not think so. Despite the good news – explains the national president of Anp-Cia, Alessandro Del Carlo – these are completely insufficient resources to meet the most elementary needs of daily life. The establishment of the fourteenth was motivated by emergency reasons: to give relief to the categories that, more than others, had suffered the weight of the economic crisis. But the social emergency is still underway, moreover aggravated by a year and a half of the pandemic. Hence the request for an increase of the fourteenth. After the extension of the benefit up to double the minimum treatment, today 1,030 euros, and the 30% increase for the lowest pensions with the 2017 Budget law – adds the president of INAC, Antonio Barile – we insist that fourteenth is extended up to three times the minimum treatment (1,520 euros per month) and pension minimums are brought, at least, to the provisions of the European Social Charter (40% of the national average income, i.e. at least 780 euros).