New Poverty

The most important failure of this Government has been without doubt, the failure to protect consumers and in particular families.
Italians don’t need statistics to understand that they have become poorer in the last 5 years.
However it is useful to note some of the price increases in the period 2001-2005:
- Rents + 66%
- Car insurance +23%
- Petrol +27%
- Milk +25%
- Mineral water + 81%
- Bread + 38%
- Pasta +43%
- Oil +40%
To face up to this collapse of the consumer system, families have found only one solution: to get into debt. In fact according to data from Assofin, consumer credit grew by 24.6% in 2005.
Debts have become a part of family budgets to such an extent that the number of those using the opportunity to have a loan of up to a fifth of their salary has grown by 40% in the last year, with a total of such loans valued at 2,746,000,000 Euro in 2005. In Berlusconi’s 5 golden years, the value of the “fifth of salary” loans increased overall by 264.4% (data: Assofin).
Italians get into debt for food, rents, study and health.
They have become poorer with debts that they often cannot honour.
This Government has failed.
Every Italian knows this when they buy a litre of milk, pay the rent, look at the details of their meagre salary, when they think of their own future and when they think of their children’s future.
Posted by Antonio Di Pietro in
Society
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Even though avearge real incomes have fallen under Belusconi, Italians are, on average, amongst the best-paid and wealthiest people on earth. If you are suggesting that most Italians earn a meagre salary and are relatively or/and absolutely poor then that's absurd.
Posted by: Victor Trevitt | December 17, 2007 01:39 PM