Italy Approves 24 Billion-Euro Budget to Strengthen Economy and Support Families

Italy's 24 billion-euro budget focuses on bolstering public services, supporting families, and easing financial burdens. Premier Giorgia Meloni leads the effort.

Oct 16, 2023 - 09:19
Oct 16, 2023 - 09:19
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Italy Approves 24 Billion-Euro Budget to Strengthen Economy and Support Families
Italy Approves 24 Billion-Euro Budget to Strengthen Economy and Support Families

Italy's government, led by Premier Giorgia Meloni, has given the green light to a 24 billion-euro budget for the upcoming year. This budget aims to boost public health services, encourage families to have more children, and provide financial support to low- and medium-wage earners.

Giorgia Meloni emphasized that this budget is aligned with the government's priorities. Despite an expected increase of 13 billion euros in debt payments due to rising interest rates, Meloni described the budget as both "serious" and "realistic."

Key measures include a reduction in payroll taxes, which will add an extra 100 euros per month to the income of 14 million Italians. This move is intended to increase spending power, especially in the face of rising inflation.

The budget also introduces payroll tax breaks for women with at least two children and guarantees free nursery school from the second child onwards. These measures are aimed at dispelling the notion that having children hinders professional opportunities.

Around 3 billion euros have been allocated to enhance Italy's public health services, with the goal of reducing wait times for critical medical services, particularly in the wake of the COVID-19 pandemic.

Foreign Minister Antonio Tajani, who leads the Forza Italia party, criticized the lengthy waiting lists for medical services, calling them a "national shame." He emphasized the urgency of timely medical evaluations.

The budget also includes an increase in the minimum pension and a reduction in the annual fee supporting RAI state television, from 90 euros to 70 euros for households.

In a significant infrastructure development, Meloni's Cabinet has approved funds for the construction of a long-debated bridge connecting mainland Italy to Sicily. This project holds special significance for League leader Matteo Salvini, who serves as the infrastructure minister. Salvini has announced plans to begin work on the bridge next year.

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