But a governing party hopes for a political payout
TELLERS IN POST offices across Italy dreaded being overwhelmed on March 6th, the first day of applications for the “citizens’ income”. In the event, claims came in a steady stream rather than the feared flood: 35,653 of them. Luigi Di Maio, leader of the Five Star Movement, which became the biggest parliamentary party at last year’s general election, hailed the launch of his signature policy as a “revolution”. But critics say the scheme is unaffordable and could blunt the incentive to work.
Around 1.3m families are expected to apply for the scheme, at a cost of €7bn a year. For a country with a public debt of 132% of GDP, that may be too generous, says Carlo Cottarelli, a former IMF economist. He thinks the government’s spending commitments and a stagnant economy , could push next year’s budget deficit above the European Union’s limit of 3% of GDP.
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