Lucrezia Ciotti The Democratic Party (PD) is facing the challenge for Palazzo Chigi and is placing the issue of wealth redistribution at the center. Francesco Boccia proposes the creation of a sovereign wealth fund, funded by large public companies, with the goal of financing welfare and supporting families and young people.
Center-left moves toward Palazzo Chigi, Boccia's move: "Sovereign wealth fund financed by subsidiaries."
The center-left is preparing for its return to government, and among the options on the table is a new wealth redistribution strategy . Francesco Boccia, president of the Democratic Party's senators and one of the members closest to secretary Elly Schlein , outlined it during a meeting at the Festa dell'Unità in Bologna , at Cevenini Park, also dedicated to the future of alliances.
As reported by Il Resto del Carlino , according to the Democratic Party group leader, a possible center-left executive should be ready to " do things that have never been done before in this country ," focusing above all on measures capable of supporting families, young people and the most disadvantaged social groups.
Boccia linked this need to the loss of purchasing power in recent years: " When they go shopping, people know they're worse off than they were four years ago ," he said, emphasizing how economic hardship can fuel social anger that's also been intercepted by the right.
A topic that the senator had addressed a few days earlier at the National Unity Festival in Reggio Emilia, contesting the government's policies on wages, work, energy costs and the increase in shopping basket prices.
The Democratic Party's proposed response would also involve the creation of a national sovereign wealth fund , financed with a portion of the resources generated by the main publicly held companies. Boccia cited Eni, Enel, Poste Italiane, Terna, and Leonardo , companies that, in his view, have been able to grow thanks in part to the presence and support of the state. It remains to be determined what portion of their resources could be allocated to the project—dividends, profits, or other revenues—but the stated objective is to create a new structural source to support welfare.
The reference to Norway and Schlein's redistributive line
To explain the proposal, Boccia cited the Norwegian model : " It is not lèse-majesté if we do something that in other countries is done almost naturally ." The Democratic Party group leader then added: " In Norway they have the largest sovereign wealth fund in Europe, aimed at financing welfare with the proceeds from oil sales. Therefore, our proposal, if it is up to us to lead the country, will be that a portion of large public companies go into a sovereign wealth fund to be built to finance welfare ." The reference is to the Norwegian Government Pension Fund Global, which collects state revenues from oil and gas activities and investment returns.
The resources are used through the public budget according to precise fiscal rules, designed to preserve the assets over time and distribute the benefits to future generations. Boccia also linked the proposal to the political line promoted by Elly Schlein , arguing that the secretary faces " great resistance from a certain segment of the establishment ," which, in his opinion, does not want to understand the direction the party is taking.
A direction oriented toward " redistributive policies " that allow " people to be better off, young people to study, and to intervene in the suburbs in time, not when it's too late ." The project thus fits into the path with which the Democratic Party and its allies are trying to build a common program ahead of the upcoming political elections.