Budget measures ahead of Wednesday’s Council of Ministers meeting. Salvini: ‘We have the agreement and the resources to overturn the Fornero reform’
Negotiations with Brussels remain crucial to ensure that a portion of current expenditure is also included in the safeguard clause, so as to fund direct assistance towards paying the utility bills of households in financial difficulty
From the issue of pensions to that of bank guarantees, via the tax chapter. The draft Budget Bill is expected to be discussed by the Council of Ministers late on Wednesday morning, following a brief delay due to outstanding issues between the majority parties. These issues have been addressed in a series of meetings with Prime Minister Giorgia Meloni, Deputy Prime Ministers Antonio Tajani and Matteo Salvini, the leader of Noi Moderati, Maurizio Lupi, and the Minister for the Economy, Giancarlo Giorgetti. Starting with the negotiations with Brussels to include a portion of current expenditure within the safeguard clause, so as to fund direct assistance towards the payment of utility bills for households in financial difficulty.
“I believe we will finalise by this evening (Tuesday, ed.) the proposals we consider admissible,” said Giorgetti, speaking via video link on the programme “L’Italia delle Regioni” in Florence, noting that ‘the government submits a proposal to Parliament; Parliament may then put forward ideas for improvements, identify resources that we were unable to find, or reallocate funds differently. Today’s response and the proposal the government will put forward will be based on the conditions set out today.’
Pensions issue
On the domestic front, there is the issue of pensions. “The economic situation is not easy, particularly at an international level” Salvini told Radio24; however, “there is an agreement and the funding is in place, as with other areas of expenditure”, to repeal the Fornero Law and “return to retirement at 64, rather than 67, on an optional basis”. The priority for the League, he pointed out, “is to repeal the Fornero Law and thus give back three years of life to those who choose to retire at 64 rather than the 67 provided for by the legislation, with full coverage, funds and the necessary allocations, not only in 2027 but also in 2028, 2029 and beyond’.
The banking dossier
According to Salvini, part of the funding for pensions, employment, businesses and the energy cost crisis will come from ‘a significant contribution from the banks’. The League leader justifies this on the basis of the profits generated by the fees paid by customers. The Draft Budget Plan (DBP) sent to Brussels reckons on 5 billion from the financial sector. The final form of the package depends on a meeting between the Deputy Minister for the Economy, Maurizio Leo, and the Italian Banking Association (ABI). Tajani acknowledged that the contribution may be painful, but called for a ‘light-handed approach’.
The tax front
On the tax front, the plastic and sugar taxes have been postponed for a further six months, from 1 January to 30 June 2027. This would mark the ninth extension for the two taxes, which were introduced in 2020 but have never been implemented. This was confirmed by Tajani, who said he was in favour of a one-year postponement. Assobibe and Unionplast had called for their permanent scrapping.
