The government has approved the document that will prepare the budget law

Committee of Ministers on Tuesday evening Approved The “Budget Planning Document” (DPB) is a document sent to the EU in mid-October each year by all member states to evaluate the economic policies of each state.

This document contains the government’s estimated costs and revenues for next year, but it is not the actions it intends to take, but rather the Budget Act. The target of spending and revenue cuts (hence taxes) is subject to revolt by the government majority every year, and this year it is even higher, with the government backing the majority from left to right this year.

In relative Press Release, The government website does not specify the total value of the activities in the document, but major Italian newspapers write that it should be worth about 23 billion euros, which equates to about 1.2% of Italian GDP.

In terms of financial measures, “early intervention is expected to reduce the tax burden” and “a reduction of 22% to 10% of VAT on absorbent products for women’s health” and, among other things, the plastic tax and sugar tax is expected to be postponed to 2023.

Details of these measures will be discussed in another cabinet in the next few days, but discussions have been going on for several days. For example, some members of the government expected that about ில்லியன் 8 billion of the கருத 23 billion already earmarked should be earmarked for tax cuts, especially in recent days as demanded by Forza Italia.

Other topics that have been talked about by many in anticipation of the “budget plan document” are the possibility of adding a new pension system reform to the citizen income and year-end maneuvers, so “allocation 100” – the amount is understood as age and contribution years – “102 share.

In this regard, the government report “In the budget plan document” “Introduces corrective measures to strengthen the payment level of citizens’ income by 2021, strengthening payment methods and regulations”. He added: “Interventions in the field of pensions are planned, to ensure a gradual and consistent transition towards normal governance, and the reform of social security nets is being implemented”.

The bill containing these measures must be submitted to Parliament: when it is debated in the House and Senate, the European Commission will review the DPP to verify compliance with European budget policies. Otherwise, you can ask for a review by November 30th.

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The “Quota 100” was approved on a trial basis for a maximum of three years, supported by the Lega and 5 Star movement during the first government led by Giuseppe Conte in January 2019. The reform allowed at least 62-year-olds to retire and pay at least 38 years of contributions (100 years in total, to be exact).

Reform was mainly desired by Lega, which, along with the 5 Star Movement, invested most of its political capital in government over the years. But during the second Conte government, the reform was not renewed as the League exited and the Democrats entered the majority.

The deadline to qualify for the “Quota 100” expires on December 31, and the previous pension system from 1 January 2022 was called the Fornero Act in 2011, which allows retirees to reach retirement. Age 67. That was the reform Competed in the following years by all parties, The expectation that it would come into force again has been heavily criticized in recent days, especially by Lega Matteo Salvini, who in the meantime has returned to the majority.

The settlement is called “Quota 102”, according to government developments, and you can retire with 38 years of contribution and 64 years (total 102 years, and not more than 100) However, this is an interim solution and will be in effect for two years: in this case between the parties No agreement yet, especially emphasizing the need for greater flexibility in accessing pensions from the age of 62 onwards.

Another big issue for the year-end maneuver is the refinancing of citizen income for 2022, which was a symbolic move by the 5-star movement during the years it was in government with Conte. In a “tax decree” approved last week, the government set aside மில்லியன் 200 million to refinance the measure until the end of the year to “respond to the trend of demands”. Many members of the league, including Economic Development Minister Giancarlo Gierketti, have spoken out strongly against themselves. In the Budget Act for 2022, this measure can be amended accordingly by further improvements by reducing the amount of the subsidy after the second denial of the proposed employment to the beneficiaries.