The budget for the upcoming year which aims to improve public health services, encourage families to have more children, and put more money in the hands of low- and medium-wage earners, was adopted by Italy’s far-right-led government on Monday.
The 24 billion euro ($25 billion) budget, which includes $5 billion in spending reductions, is in accordance with the aims of the government, according to Premier Giorgia Meloni. She called it “serious” and “realistic,” despite the fact that Italy will likely see an increase in payments to service its public debt of 13 billion euros as interest rates rise.Prior to being submitted for EU approval, Meloni’s cabinet approved the budget during a one-hour meeting. Giancarlo Giorgetti, the minister of finance in Italy, expressed assurance that the EU and markets would accept the budget.
According to Meloni, a reduction in payroll taxes will increase 14 million Italians’ purchasing power in the face of rising inflation by putting 100 euros a month in their pockets.The budget also guarantees free nursery education from the second kid onwards and offers payroll tax savings to mothers with at least two children in an effort to “undo the story that having children is a disincentive to work.”
Italy’s public health services have been allocated almost 3 billion euros with the aim of lowering wait times for services in the wake of the COVID-19 outbreak.The waiting lists are “a national shame,” according to Forza Italia’s Foreign Minister Antonio Tajani. Cancer cannot kill you because a scan is performed even after your death.
Additionally, the budget increases the minimum pension while lowering the yearly household contribution to RAI state television from 90 to 70 euros.
The infrastructure minister and League leader Matteo Salvini’s pet project, a long-discussed bridge between mainland Italy and Sicily, received funding approval from Meloni’s Cabinet. Work would start in 2024, according to Salvini.
