Inflation: new measures to support companies and the social sector

The Council of Ministers has approved a 1.4 billion euro package of support for businesses and the social economy to combat rising energy prices and to mitigate the effects of inflation.

This support consists of 11 measures:

• Strengthen support for gas-intensive industries
• Create a credit line for companies directly or indirectly affected by the sharp rise in energy and raw material costs and disruptions in supply chains
• Supporting energy efficiency measures and accelerating the energy transition in the industrial and agricultural sectors
• Establishing support for active employment and qualified worker training
• Supporting external promotion and internationalization of companies
• Create an extraordinary financial support, in the form of a subsidy, to minimize the effects of escalating fuel and electricity prices in the rail freight sector
• Create a new line of financing for the social sector and a financial contribution line for private social solidarity institutions or similar non-profit entities that develop social responses of a residential nature
• Suspend, until the end of the year, the Tax on Oil Products (ISP) and the carbon tax on natural gas used in the production of electricity and cogeneration
• Increase the IRC tax on expenses with electricity and natural gas and also on expenses with fertilizers, feed and other food for agricultural production activities
• Extend, until the end of the year, the extraordinary professional diesel (GPE) mechanism and the temporary ISP reduction applicable to Agricultural Diesel
• To increase, until June 30th 2023, the exceptional price revision regime in public contracts.

These measures are cumulative with the measures currently in force, fiscal in nature, to support innovation and slow the rise in fuel prices.

Source: Government portal