Date:
3 November 2015
Statement by the President of Confindustria Lombardia, Alberto Ribolla
Milan, 3 November 2015 – The third quarter of 2015 marks a period of stabilisation for the Lombardy economy. The economic analysis conducted by Unioncamere and Confindustria Lombardia reveals positive indicators across the board, with the sole exception of domestic orders, confirming a renewed sense of stability. This allows entrepreneurs to look to the future with greater optimism, as also confirmed by the Istat study on business confidence, which has returned to pre-crisis levels.
In addition to the positive data on industrial production, plant utilisation rates, capital goods, turnover and the reabsorption of the Wage Guarantee Fund (CIG), there are three specific elements that signal a renewed vitality in our businesses: the territorial homogeneity of the increase in industrial production, with all provinces recording positive industrial output, excluding only Bergamo and Como; the manufacturing production index, which is increasingly close to European levels and a full 18 points above the national result; and the number of active businesses, with the balance between closures and new openings continuing to grow faster than in the rest of Italy, demonstrating a renewed entrepreneurial spirit.
The modest recovery in employment, however, is closely linked to the ongoing reabsorption of the CIG. It should be noted, however, that Lombardy’s unemployment rate (7.7%) remains well below not only the Italian average (11.8%) but also the Euro Area level (10.9%).
Given this regional snapshot, now is the time to provide a decisive boost to our economy: the 2016 Stability Law, if the framework is confirmed by the parliamentary process, is an excellent tool. The private investment incentive of the super-depreciation, the abolition of IMU on fixed machinery, the extension of social security contribution relief for new hires, the tax relief on productivity-linked wages, the incentive for corporate welfare and, finally, the 3-point reduction in IRES (subject to the migrant clause currently being approved by the EU, Ed.) are measures that align with the needs of businesses.
We are confident that Lombardy’s entrepreneurs, once these measures are implemented, will play their part in terms of employment, investment and productivity.
The renewed strength of our economy, as well as the favourable measures and environmental conditions, do not allow for complacency. There remain factors that must be addressed to increase the competitiveness of our businesses and our regions.
This is a time for courage from everyone to implement concrete measures, taking advantage of the favourable climate that Lombardy is experiencing, partly due to the high visibility gained from the success of EXPO. We must do this through targeted actions to foster internationalisation, sustainable growth and the digitalisation of businesses, starting with the practical implementation of the ERDF ROP.
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