The Council of Ministers, on a proposal from the Minister of Economy, in the session of 15 October 2024, approved the bill containing the State budget forecast for the financial year 2025 and the multi-annual budget for the three-year period 2025-2027. .
Among the main welfare provisions, the following are worth mentioning:
1. Extending the effects of tax reform and cutting tax wedges. The structural effects of the wedge cut and the IRPEF rates already in place in the current year are merged into three brackets;
2. Family support and birth bonus. Measures regarding parental leave are confirmed and strengthened. A “Card for newborns” has also been introduced which recognizes 1,000 euros for parents with ISEE within 40 thousand euros. The maneuver strengthens the bonus intended to support attendance at kindergartens, also providing for the exclusion of the sums related to the individual universal allowance from the calculation of the ISEE. Among the social measures, the “dedicated to you” card will be refinanced for 2025, up to 500 million. When calculating the deductions, the number of dependent family members will be taken into account, the more family members, the more room for tax deductions;
3. Work and business. In the South, the incentives aimed at hiring young people and female workers are confirmed, which will also be recognized for employment relationships implemented in the two-year period 2026-2027. In addition, the disbursement in favor of companies located in the Special Economic Zone (SEZ) and the self-employment incentives in strategic sectors to develop new technologies and the digital and ecological transition are confirmed. In addition to confirming fringe benefits for all those who are entitled to receive it, the sums are increased for new hires who agree to move their residence more than 100 kilometers. Among the fiscal measures, the 5% preferential tax on productivity bonuses paid by companies to workers is also confirmed for the three-year period 2025-2027;
4. Pensions. The measures of the 2024 Budget Law are confirmed and those intended for public and private workers who remain employed, despite being of retirement age, are strengthened.
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