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Italy Today

Italian news in English

Thursday, November 14, 2024

Italy's Budget Plan: Key Reforms Ahead

Published: 2024-10-08

Italy's government is currently examining the Structural Budget Plan, which will shape the country's financial strategy for the coming years.

Key measures under consideration include tax reforms, pension adjustments, and efforts to boost birth rates.

The government aims to make the tax cuts for middle-income earners permanent, potentially reducing the second income tax bracket from 35% to 33% and extending it to incomes up to €60,000. However, debates continue over the taxation of bank windfall profits, with no consensus reached.

Pension reforms are also on the table, with discussions around extending existing measures and potentially increasing minimum pensions.

Additionally, the government is exploring ways to support families, such as enhancing the universal child allowance and improving parental leave policies.

These initiatives are part of a broader effort to balance fiscal responsibility with social welfare improvements.