Italy's Ambitious 2025 Budget: Balancing Cuts with Social Support

Italy's parliament has approved a 2025 budget aiming to provide tax cuts and enhance social security benefits, totaling around 30 billion euros. Spearheaded by Premier Giorgia Meloni, this budget seeks to support low-income families and strengthen Italy's healthcare system, amidst criticism from the opposition.

Italy's parliament has given the green light to the government's 2025 budget, a 30 billion euro plan focused on tax cuts and social support for low-income citizens. Spearheaded by Premier Giorgia Meloni's far-right cabinet, the budget narrowly passed in the Upper House with 108 votes to 63.

The budget's approval hasn't come without controversy. Italy's center-left opposition criticized the economic measures for failing to fulfill Meloni's promises of wider tax cuts and increased employment opportunities. Despite the pushback, Meloni defended the budget, asserting that it offers a 'wide balance' and provides essential support for families, low-income earners, and the national health system.

Notable components of the budget include a 1,000-euro bonus for parents of newborns, aimed at combating Italy's declining birth rates, and a 3.5 billion euro contribution from banks to bolster the health system. The government is also striving to reduce the national deficit to adhere to European Union expectations.

(With inputs from agencies.)