Italy govt approves 2023 budget with 35 bln euros to lift economy

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Italy govt approves 2023 budget with 35 bln euros to lift economy
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Italy's new right-wing government signed off on its first budget on Tuesday, a package focusing on curbing sky-high energy bills and cutting taxes from next year for payroll workers and the self-employed.

The budget tightens the terms of the "citizens' wage" poverty relief scheme for the unemployed, which the rightist coalition says discourages people from seeking work.

The budget allocates over 21 billion euros next year to help firms and households pay electricity and gas bills. The package also introduces fiscal incentives aimed at encouraging the hiring on open ended contracts of women under 36, fixed-term workers and people drawing the citizens' wage.With inflation biting, Italy's economy is forecast to grow just 0.6% next year after a figure of 3.7% this year, according to the latest Treasury estimates, which are more upbeat than those of many independent forecasters.

With a view to building a huge bridge connecting Sicily to the Italian mainland, a long-time pet-project of Italy's right, to oversee the project the bill relaunches a dedicated state-backed company that had been put into liquidation.

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