Hello and good evening from Rome by Giulio Centemero on GiulioCentemero.com.
Today both committees Finance and productive activities are voting the amendments to the Liquidity Decree.
The Decree focuses on Debt through banking channels. On Thursday the Financial Times published an article by Andrea Vismara, CEO of Equita, an independent Italian Investment bank, in which the author express the fact that “debt is effective because it reaches companies quickly and effectively, but it cannot be the only tool.”
I can’t agree more with this concept especially because, as the article says, “companies need patient capital to start planning the future without the burden of too much leverage.” The solution is obviously equity. We’ve been discussing about the matter several times and during my service as MP I’ve been always promoting legislative initiatives to foster the use and the facility of access to equity.
In the Liquidity Decree, tallying with the said principles, I tabled one amendment in particular that extends the tax credit of 50% on IPO consulting costs to all kinds of IPOs and to equity crowdfunding. This is just a small step and I hope the majority will support it, although I’m quite skeptical.
Equity means also transparency, sustainability and visibility and Italy’s portfolio of funding definitely lacks of equity instruments.
Have a nice evening and see you next week, always on giuliocentemero.com.