HomeEconomyItaly's Meloni to unveil 30 billion-euro budget to boost economy Economy Italy's Meloni to unveil 30 billion-euro budget to boost economy By hossam a November 21, 2022 0 155 views Share FacebookTwitterPinterestWhatsApp Amazon -0.25% Add to/Remove from Watchlist Join the watch list Add location Location successfully added to: Please name your holding folder type: purchase Sell date: quantity: price Point of view value: Leverage: 1:1 1: 1: 1: Giuseppe Fonte ROME (Reuters) – Italian Prime Minister Giorgia Meloni’s first budget, due to be approved by his cabinet on Monday, will focus on Curb high energy bills and cut taxes for wage workers and the self-employed. Cabinet will meet at 8 o’clock. afternoon(75 GMT) to discuss and approve the bill. It will then go to parliament, which must pass it by the end of the year. The total amount of expansion measures exceeds billion euros (.8 billion), Rome plan to fund % to raise next year’s budget deficit to 4.5 percent of gross domestic product (GDP), compared with a forecast of 3.4 percent in September. Some 3 billion euros will come from a windfall tax on the profits of energy companies that benefit from soaring oil and gas prices, officials said. with t ax rate% or more, taxed It will follow the framework proposed by the European Commission and will replace a previous scheme that this year has sparked criticism and refusal from numerous energy companies to pay. A further potential source of funding is a tax on home deliveries to help store owners hit by Amazon (NASDAQ: 500AMZN), and a cut to the previously specified 9 billion euros 200 is Italy’s “citizen wage” poverty alleviation program. Economic slowdown Meloni will spend more than 10 billion euros will go to help businesses and households pay their electricity and gas bills next year, officials said. Around 5 billion euros are expected to reduce the “tax wedge”, the difference between what employers pay and what workers take home, low and middle income Workers will benefit. As inflation picks up, the Italian economy is expected to grow at 70, according to the latest Treasury estimates, GDP grew just 0.6% after growing 3.7% this year. implementing one of her flagship fiscal proposals, Meloni will extend the for self-employed individuals on annual % single tax rate income up to 41,, EUR. One of the most controversial measures in the budget is the rebalancing of up to 1, from the previous Euro 200. Critics say the amnesty, not uncommon in Italy, encourages people not to pay taxes. Meloni is also expected to conditionally lower the retirement age next year, stipulating that Italians have reached the age of 15 As long as they pay at least Many years of contributions. According to the rules that Meloni’s predecessor, Mario Draghi, just put in place this year, people get a state pension when they are As long as they have been for year. Other possible measures include the treatment of pasta and bread etc. Consumer essentials, as well as baby care products and feminine tampons, are temporarily exempt from sales tax. ($1=0.500 EUR) 100 Share FacebookTwitterPinterestWhatsApp Previous articleCheryl Burke to leave 'Dancing With the Stars'Next articleOdell Beckham Jr. actively recruited by multiple Cowboys after Monster win hossam a RELATED ARTICLES Economy Exclusive-Top development banks at COP28 vow to up climate game, quiet on fossil fuels – document December 3, 2023 Economy China regulator to speed reform of smaller financial institutions December 3, 2023 Economy Take Five: That most wonderful time of the year December 3, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. USA Trends Messi-mad Indian mom driving to Qatar to see hero in his final World Cup December 7, 2022 Drew Brees fakes lightning strike in promotional stunt for online sportsbook December 3, 2022 Who could be speaker, if not Kevin McCarthy December 3, 2022 3 bold Utah football predictions for Pac-12 Championship vs. USC December 3, 2022 Load more LAST NEWS The upcoming Poco X6 5G seems to be a rebranded Redmi Note 13 Pro 5G December 3, 2023 Here Are Four Crypto Assets Poised For A Major Price Explosion – Analyst December 3, 2023 7th Time Loop: The Villainess Enjoys a Carefree Life Anime Casts Shinnosuke Tachibana December 3, 2023 Exclusive-Top development banks at COP28 vow to up climate game, quiet on fossil fuels – document December 3, 2023 Load more Featured NEWS Weekend sip: This $10 bottle is the perfect National Wine Day sip August 26, 2022 Singer LiSA announces birth of first child April 26, 2023 Cashman, Steinbrenner reflect on 2023 season November 11, 2023 Sovereign debtors, creditors agree on steps to initiate debt restructuring April 13, 2023 Load more
