Thursday, December 14, 2023
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The wait is finally over! The European Commission is happy to share the news that they recently gave the green light to the Industry 5.0 Transition Plan submitted by the Italian Government within the framework of the NRRP and the wider scope of REPower EU. The new plan will be funded with 6.3 billion euro for the 2024-2025 period, adding up to the resources already allocated for the 4.0 Transition Plan, and will aim at encouraging (through tax credits based on documented expenses) investments in goods that improve the energy efficiency.
The details of the 5.0 Transition Plan will be set out in a dedicated Law Decree coming up in few weeks, with preliminary rumours that the current 4.0 Plan tax credit rates will be doubled, at least. So, this measure is expected to revitalise also the woodworking technology purchases, as the Italian market will benefit from the same tax credits that led to the record growth rates of 2021-2022.
The National Recovery and Resilience Plan is part of the Next Generation EU programme negotiated in response to the pandemic crisis. Italian NRR Plan envisages investments and a consistent reform package to be allocated through the Recovery and Resilience Facility and Complementary Fund with belonging amounts of € 191.5 billion and € 30.6 billion respectively. In addition to these resources, supplementary funding is to be made by Development and Cohesion Fund and REACT-EU programme.
Overall structure of the Plan is developed around three strategic axes shared at a European level: digitisation and innovation, ecological transition, and social inclusion and is articulated through six missions out of which the focal ones, aimed at promoting the digital transformation of the country and supporting innovative capacity of its production system, are “Digitisation, Innovation, Competitiveness, Culture” as well as the “Green Revolution and Ecological Transition”.