Storm over proposal to increase cash payout limit to €10,000 – English


(ANSA) – ROME, OCT 26 – A bill presented by Deputy Prime Minister and Infrastructure Minister Matteo Salvini’s League party to raise Italy’s limit on cash payments from 2,000 euros to 10,000 euros was criticized by the opposition.

Salvini said the proposal made sense and would help to have “less bureaucracy, more freedom”.

Giovanbattista Fazzolari, a senator for Prime Minister Giorgia Meloni’s Brothers of Italy (FdI) party, also backed the idea, saying it was part of the winning center-right coalition’s election manifesto.

Fazzolari said lifting the threshold could be part of the measures in the government’s 2023 finance law.

But the Democratic Party (PD), center-left of the opposition, said it was firmly opposed to this idea.

“This goes completely against what has been done in Italy and in most European countries in recent years to gradually reduce the use of cash and encourage traceable payments and the fight against the underground economy”, said said PD economic spokesman Antonio Misiani.

Asked about the bill, European Commission Vice-President Valdis Dombrovskis said setting the cash payment limit was up to member states, while adding that the EU executive preferred the thresholds to be low. . (ANSA).



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