Italy Approves Budget Plan with Newborn Savings Fund, Energy Cost Relief
(MENAFN) Italian Prime Minister Giorgia Meloni’s Cabinet approved the country’s proposed 2027 budget on Wednesday, introducing a savings contribution for newborns alongside measures intended to lower electricity and gas expenses for households and businesses, according to reports.
Under the proposal, each newborn would receive an annual state contribution of €100 ($116) from 2027 until reaching the age of 18. Government sources said the money would be deposited into a pension savings fund.
The initiative was put forward by Economy Minister Giancarlo Giorgetti.
The Cabinet also endorsed a decree designed to ease energy costs for consumers and companies. The measure establishes a price ceiling of €58.9 ($68.5) per megawatt-hour, with the scheme expected to apply for a period of 12 to 18 months.
Other items approved or considered by the Cabinet included a legislative decree to overhaul regulations governing the craft sector and another measure to reorganize rules for outdoor seating areas.
The proposed budget forms part of a wider €23.5 billion package of measures planned for 2027, as outlined in the draft budgetary plan previously submitted to the European Commission and the Italian parliament.
Under the proposal, each newborn would receive an annual state contribution of €100 ($116) from 2027 until reaching the age of 18. Government sources said the money would be deposited into a pension savings fund.
The initiative was put forward by Economy Minister Giancarlo Giorgetti.
The Cabinet also endorsed a decree designed to ease energy costs for consumers and companies. The measure establishes a price ceiling of €58.9 ($68.5) per megawatt-hour, with the scheme expected to apply for a period of 12 to 18 months.
Other items approved or considered by the Cabinet included a legislative decree to overhaul regulations governing the craft sector and another measure to reorganize rules for outdoor seating areas.
The proposed budget forms part of a wider €23.5 billion package of measures planned for 2027, as outlined in the draft budgetary plan previously submitted to the European Commission and the Italian parliament.
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