US EditionItalian Parliament Gives Final Approval to Government’s 2026 Budget
The €22 billion budget cuts the deficit to 2.8% of GDP with a 2-point middle income tax cut and funds partly from levies on banks and insurers, lawmakers said.
- On Tuesday, Italy's Parliament approved the government's 2026 budget, with the lower house passing the bill 216-126 after the Senate approved the 22 billion package last week.
- Aiming to meet EU rules, the government designed the roughly 22 billion-euro budget to reduce the 2026 deficit to 2.8% of GDP amid sluggish economic growth and rising public debt.
- Funding for the measures relies heavily on levies, and about 25% comes from the financial sector, while the European Central Bank warned these could reduce credit to families and businesses.
- Economy Minister Giancarlo Giorgetti described it as a positive budget despite its tortuous passage, while Elly Schlein, leader of the Democratic Party, criticised it as austerity-minded and insufficient for low-income workers.
- Analysts say the coalition must balance European fiscal rules and domestic support, while Prime Minister Giorgia Meloni warned staff that 2026 "will be even worse".
12 Articles
12 Articles
For weeks he had been preceded by a dispute, but now Italy's budget for 2026 still stands. Prime Minister Meloni speaks of a serious package of measures. Criticism comes from opposition and trade unions.
He protested to the House shortly before the final approval of the budget law with 216 yes and 126 no, without any changes to the Senate text. At the end of the speech by secretary Elly Schlein and just before the final vote on the Manovra, the MPs raised in the Chamber of the Chamber of cartels with a written "Disaster Meloni" in writing. The dem were immediately recalled by President Fontana. The article "Disaster Meloni": cartels in the Hall …
Italian parliament gives final approval to government’s 2026 budget
By Giuseppe Fonte ROME, Dec 30 (Reuters) – The Italian lower house on Tuesday passed the government’s 2026 budget, giving final parliamentary approval to the deficit-cutting package which becomes law just ahead of a end-year deadline. Prime Minister Giorgia Meloni’s fourth budget aims to lower next year’s fiscal deficit to 2.8% of gross domestic product from a targeted 3% in 2025, paving the way for Italy’s exit from an EU excessive deficit pro…
Coverage Details
Bias Distribution
- 60% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
