Orsini warns EU budget cuts will hurt industry and urges stronger gas price cap

At the finale of the Young Entrepreneurs gathering in Capri, Orsini expressed deep concern over the lack of a Europe-wide industrial strategy that prioritises firm competitiveness. He warned that cutting the EU’s common budget would be a short-sighted move, especially as fiscally conservative countries press for reductions to the modest proposal from the European Commission. The industrial leader also denounced the EU Emissions Trading System as a financial-driven “madness,” urging its suspension and insisting that any proceeds be channeled entirely to businesses for decarbonisation projects.

While commending the EU’s approval of a gas-price ceiling for Italy, he argued that a lower cap of €40, the level granted to Spain in 2022, would have been far more impactful, given current Amsterdam gas prices around €90. He acknowledged the need for fiscal balance in Italy’s budget but asked lawmakers to avoid short-term electoral fixes and instead adopt measures that secure the future, such as extending hyper-depreciation to software and training, incentivising corporate clusters, continuing the housing plan, and creating a scheme to draw pension-fund and private-capital investments into productive assets.