WILL WE TREAT FUTURE GENERATIONS FAIRLY? ITALIAN FISCAL POLICY THROUGH THE PRISM OF GENERATIONAL ACCOUNTING

We compute the value of the net taxes that current policies impose to present and future generations of Italians. We use such figures to show that current fiscal policies are neither financially sustainable nor fair to future generations. This is due to the generous treatment awarded to past and currently-living cohorts. We discuss some policy options which could potentially restore sustainability while at the same time improving intergenerational justice. Our analysis is also meant to contribute to an assessment of Italian fiscal policy in the last decade. When confronting our findings with those of previous studies, it appears that in the last ten years neither sustainability nor fairness have improved.