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Italy Today

Italian news in English

Friday, September 20, 2024

Italy's Bold Tax Plan to Boost Birth Rate

Published: 2024-09-11

Italy's Economy Minister, Giancarlo Giorgetti, is proposing a new tax policy aimed at boosting the country's birth rate.

The plan involves increasing tax deductions for families with at least two children, allowing them to receive more substantial tax refunds.

Conversely, the proposal suggests reducing tax deductions for taxpayers without children.

This initiative is part of Giorgetti's broader strategy to reverse Italy's declining birth rate.

However, the implementation of this policy depends on the availability of financial resources, as the current budget is short by approximately 10 billion euros.

The success of this proposal remains uncertain, hinging on whether it can be incorporated into the upcoming budget law.