Manoeuvre 2026, where we stand and why there will be a strike on 12 December

The Budget Law 2026 was approved by the government on 17 October and was submitted to the Senate on 22 October. After the round of hearings, the Bureau of the Budget Committee in the Senate set the deadline for the submission of amendments as Friday 14 November (no later than 10am). From that moment on, the real game will begin for the amendments, which, as usual, could then end up in the government's maxi-amendment that brings together all the corrections. The goal is to get the budget law through the Senate chamber by 15 December. A sufficient margin to allow, in case of postponements or delays, to have the green light from Palazzo Madama before Christmas anyway. And thus allow the House to give the final 'lightning' green light before 31 December.

The measure has a total budget of approximately EUR 18.7 billion and includes measures on taxation, family, health and sectoral investments; the macroeconomic framework sets stringent constraints for compliance with public finance targets. Among the most relevant tax measures, the manoeuvre envisages a cut in the IRPEF rate for the bracket between EUR 28,000 and EUR 50,000, reduced by two points (from 35% to 33%). Revisions to the ISEE are also planned, as well as interventions on short-term rentals affecting rental income.

The coverage of the manoeuvre combines expenditure cuts, reallocations and new sectoral revenues. Among the latter is a contribution expected from the banking system: according to the estimates provided at the hearing by the ABI, the increased revenue from measures involving the banking sector would amount to approximately EUR 9.6 billion over the four-year period 2026-2029.

The CGIL deemed the manoeuvre insufficient on the issues of wages and social protection and proclaimed a general strike for 12 December. The union poses specific demands for a revision of economic measures, an increase in labour income and a strengthening of welfare. They range from the demand for additional resources for the renewal of public contracts, a tax-free allowance for all contracts and that the fiscal drag be returned. Then investment in public health, starting with recruitment, schools and social services. The choice of the date of 12 December is intended to maximise visibility and political pressure in correspondence with the final parliamentary procedure.