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Italy Today

Italian news in English

Thursday, October 17, 2024

Italy's 2025 Budget: Key Changes Unveiled

Published: 2024-10-16

Italy's government has unveiled a comprehensive budget plan for 2025, focusing on economic stability and social welfare.

The plan includes a structural reduction in the tax wedge, providing an additional €100 in monthly pay for those earning up to €35,000 annually.

Pension bonuses are enhanced for those delaying retirement, and new measures support family growth, including a €1,000 'Newborn Card' for families with an ISEE below €40,000. The budget also addresses public spending, with a 5% cut across ministries, excluding healthcare, which receives increased funding for hiring medical staff.

Additionally, the budget proposes a reorganization of fuel excise duties, ensuring no negative impact on the transport sector.

These measures align with new EU rules demanding strict public spending control.