Some 20% of Italian industry will have
to shut down if Russia turns off gas to Italy completely,
Confindustria federation chief Carlo Bonomi said Thursday.
If Moscow turns off the tap completely after recent partial
closures, said the industrial employers' federation president,
"we would have a hole of four billion cubic metres (of gas).
That quantity would "remain uncovered" even if national stocks
amount to an optimistic 90%, he said.
"So if those four billion were to be lacking, and they weer all
affecting Italian industry, it would mean turning off almost a
fifth of Italian industry," Bonomi told Rtl 102.5.
This is why rationing must be considered, he said.
"In the worst case scenario, we must think of a rationing
strategy with a political choice asking great responsibility
because turning off the industrial system means putting
thousands of businesses and jobs at risk".
Bonomi urged the government to intervene now on this "economic
earthquake", saying that the country cannot afford to wait two
months for a new government to act after the September 25
general election.
"Today industry is an issue for national security," he said,
saying the energy crisis jeopardized household incomes and
employment.
Among the key moves Bonomi called for was a cut to the labour
tax wedge.
"It can be done, it must be done and I don't accept the argument
that there are no sufficient resources.
"I've heard all the parties say they agree and the ministers of
this government are an expression of those parties.
"If they really want to make a cut to the tax wedge, and pout
more money into Italians' pockets, they can do it tomorrow
morning."
Tax wedge is defined as the ratio between the amount of taxes
paid by an average single worker (a single person at 100% of
average earnings) without children and the corresponding total
labour cost for the employer. The average tax wedge measures the
extent to which tax on labour income discourages employment.
This indicator is measured in percentage of labour cost.
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