Story perspectives
Italy Cuts Income Tax, Unveils €18 Billion Budget Plan
10/15/2025
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Story summary
- Italy's government approved a draft budget to cut income tax from 35% to 33% for earners between €28,001 and €50,000.
- The €18 billion package includes €2 billion for wage adjustments, €3.5 billion for anti-poverty measures, and funding for healthcare.
- Finance Minister Giancarlo Giorgetti emphasized fiscal responsibility amid economic uncertainty.
- The budget plans to raise up to €4.5 billion from banks and insurers to support these initiatives.
