Italian Council of Ministers approves budget for 2023 News

Italian Council of Ministers approves budget for 2023 | News

The Italian Council of Ministers approved this Tuesday the budget for 2023 for 35,800 million dollars, of which the majority would be destined to help families and companies in the face of the increase in energy prices.


Italian Prime Minister presents government plan in Parliament

The approved project plans to allocate more than 21,000 million dollars to measures to help companies and families to face electricity and gas bills next year, the Cabinet explained in a statement.

The Prime Minister of Italy, the rightist, Giorgia Meloni, unveiled the main lines of her first budget project the day before.

The rightist’s first budget will be presented as a bill for analysis, eventual amendment and approval in Parliament before December 31, as requested by the European Union.

According to the project, 4,315 million dollars will be allocated to reduce the difference between the salary paid by an employer and what a worker takes home, benefiting low-income workers.

It also contemplates a fund of 513 million dollars for low-income people managed by the municipalities and destined to the purchase of basic necessities.

Another point of the project is to allow retirement at age 62 on condition of having 41 contributions.

The budget extends a 15 percent income tax scheme for the self-employed to annual incomes of up to $87,202, up from the current cap of $66,684, the Cabinet said.

Giorgia Meloni’s tax plan will have to be approved by both houses of the Italian Parliament before being sent to the EU authorities in Brussels.