News / Reports

Italian government launches draft budget bill to support low-income families

Tuesday, 22 November 2022 6:40 PM [ Last Update: Tuesday, 22 November 2022 6:43 PM ]

Max Civili

Press TV, Rome

On Tuesday Prime Minister Giorgia Meloni unveiled Italy's 2023 draft budget bill during a press conference held at the Government building.

The package features a €35 billion spending plan and fiscal policies focusing mainly on supporting families, self-employed workers and those on low incomes.

About two-thirds of the 35-billion-euro budget bill will be allocated to measures aimed at helping struggling families and businesses with the cost-of-living-emergency.

Power bills have skyrocketed amid the energy crisis sparked by the Ukraine war while Italy's annual inflation rate was almost 12% in October, the highest level since March 1984.

A flat tax rate on incomes of up to €85,000 for professionals and individual businesses is to be introduced while the controversial citizenship wage basic income, introduced by the Five Star Movement in 2018, is set to be reduced.

Also the pension system will be reformed to allow early retirement the cabinet also discussed a 2013 Euratom directive which deals with civilians being exposed to ionising radiations.

Euratom is the European Atomic Energy Community set up in the late 50s to shape Europe's nuclear energy market The draft budget bill will now be sent to Brussels for approval before it is passed.

Press TV’s website can also be accessed at the following alternate addresses:

www.presstv.co.uk