US EditionItalian Parliament Gives Final Approval to Government’s 2026 Budget
The €22 billion budget cuts the deficit to 2.8% of GDP, funds a two-point tax cut for 13.6 million middle-income earners, and raises levies on banks and insurers, officials said.
- On Tuesday, Italy's Parliament approved the government’s 2026 budget, with the lower house passing the final vote 216-126 after a confidence motion.
- Built around a 2.8% deficit target, the budget of about 22 billion euros aims to meet European Union fiscal requirements amid sluggish growth and rising public debt projections.
- A headline measure cuts the second and middle income tax bracket from 35 to 33 percent for earnings between €28,001 and €50,000, benefiting around 13.6 million middle-income earners.
- About 25% of the package is funded by financial sector levies hitting banks and insurance companies, and the European Central Bank warned those levies could push banks to cut credit while Elly Schlein, leader of the Democratic Party, criticised the measures as austerity.
- Economy Minister Giancarlo Giorgetti described parliamentary passage as tortuous after tense coalition fights over a gold reserves amendment, while the law raises the retirement age gradually from 2027 and scraps six measures affecting foreigners.
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Since 2026 Irpef reduction, detaxed productivity premiums and bonuses for working moms. Discover all measures to increase incomes.
The Italian parliament approved the 2026 budget on Tuesday after weeks of debate.
A few twenty-four hours after the clock marked the time of discount, the government of Giorgia Meloni has achieved on Tuesday the definitive approval of the Chamber of Deputies for its Budget Law of 2026. On a day marked by the fatigue of a night marathon of voting, the conservative majority claimed their numbers: 216 votes in favor against 126 against and 3 abstentions. With this result, Italy dodges the dreaded scenario of the budget extension…
Shortly before the turn of the year, the Italian Parliament finally adopted the budget in 2026.
It keeps public accounts in order, but does not propose investment. And contains symbolic measures for the far right. ...
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