Budget Measures 2025: Here's What's New That Concerns You

  • WorldScope
  • |
  • 05 November 2024
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Hearings on the 2025 Budget Measures

Today, the Budget Committees of the Chamber and Senate are meeting in the Sala del Mappamondo of Montecitorio to discuss the financial measures envisaged by the maneuver. The hearing opens with a series of significant interventions by important institutional figures.

Audition Schedule

The hearing schedule includes the following times and speakers:

  • 8.30am: President of INPS, Gabriele Fava
  • 9.00 am: Representatives of ANCI, UPI and Conference of Regions and Autonomous Provinces
  • 10.00am: Representatives of the CNEL
  • 10.30am: Representatives of ISTAT
  • 11.00 a.m.: Representatives of the Court of Auditors
  • 11.45am: Representatives of the Bank of Italy
  • 12.30pm: President of the Parliamentary Budget Office, Lilia Cavallari

Expected Impacts of the Budget

According to calculations presented by ISTAT, in 2025, it is expected that 17.4 million workers will benefit from the new tax wedge cut, with an increase of 2.4 million compared to the past. This intervention will translate into bonuses of up to 20,000 euros and deductions from 20,000 to 40,000 euros, with an estimated average annual benefit of 576 euros for the new beneficiaries. However, approximately 500,000 individuals will lose this benefit, in particular those with an income below 35,000 euros in social contributions but above 40,000 euros in total income. In the healthcare sector, ISTAT highlighted that in 2023, 7.6% of Italians gave up medical care compared to 6.3% in 2019, with 4.5% citing long waiting lists as the main reason.

Future Perspectives on the Social Security System

During the hearing, Gabriele Fava emphasized that the budget bill includes measures capable of generating positive effects on the economy and the stability of the social security system. Fava highlighted the importance of returning to the ordinary regime of pension equalization with respect to inflation. Inflation for 2024 is estimated to be around 0.8%, allowing for a much-needed recovery to avoid further freezes on higher pension incomes. However, the INPS president also warned about the low participation in Quota 103, introduced in 2024 for early retirement, citing only about 1,600 applications received so far. In conclusion, these hearings represent a crucial moment for the definition of Italian economic policies and could significantly influence the socio-economic landscape in the coming years.

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