Date:
15 May 2019
Statement by Marco Bonometti, President of Confindustria Lombardia
Milan, 15 May 2019 – “Data from Unioncamere, Confindustria and the Lombardy Region confirm the concerns expressed repeatedly by Lombardy’s industrialists during the second half of 2018: the slowdown compared to the same period of the previous year is significant and, given its historical role as a leading indicator of national trends, Lombardy is now sounding a new alarm.
Most alarming is the significant slowdown in foreign orders, where international trade uncertainties are weighing heavily enough to cause the share of foreign turnover to drop to 38.9%. There is also a specifically Italian weakness regarding the domestic market: in times of uncertainty like the present, having domestic demand that supports the country’s economy becomes an imperative. However, it is clear to everyone that the government’s choices continue to move in a different direction.”
“On the domestic front, we need a shock capable of stimulating domestic demand, a shock that could come from reducing the tax wedge, allowing more money to be put into workers’ pockets, from infrastructure investment and the real unblocking of stalled projects, without forgetting the training chapter: in Italy, as proposed by Confindustria to the Minister, we must increase education investment by one percentage point of GDP (currently at 3.4%), otherwise the skills gap with our competitors will become unbridgeable. Once the election campaign is over, the measures that the country truly needs must be taken.”
At present, Europe is squeezed between China and the USA, too fragmented and weak to protect us, and with 10 days to go until the European elections, which represent a watershed for the future of the EU and Italy, it is the duty of entrepreneurs to emphasise how vital and essential the dimension of a country integrated within the European Union framework is.
According to Confindustria Lombardia, the European Union’s action from 27 May must focus on three pillars: Industry and innovation, Strategic plan for the automotive sector and infrastructure. We must also work together so that Italy, as the second-largest manufacturer in Europe and seventh globally, obtains an important and decisive mandate in the European Commission.” “For industrialists, the right direction to take is ‘more Europe, less bureaucracy’
Read the Confindustria Lombardia document ‘Proposals for a European policy’
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