The new budget law moves along two main objectives: supporting the purchasing power of families and strengthening healthcare. The Minister of Economy Giancarlo Giorgetti confirmed a prudent approach to public finances, but with the desire to further integrate funds for the National Health Service. On a macroeconomic level, the growth forecast for 2025 remains at 0.5%, while the GDP for 2024 could close with an increase of between 0.6% and 0.7%.
50% renovation bonus on first homes
One of the pillars of the maneuver concerns the extension of the 50% renovation bonus for interventions on first homes. The provision confirms the deduction for building maintenance and redevelopment costs, with the aim of supporting the sector and encouraging the safety of properties. The Government’s intention is to maintain a stable measure, easy to access and without the bureaucratic complexities of super bonuses. The extension will allow the continued deduction of half of the expenses up to the established limit, guaranteeing families a direct and immediate benefit. The bonus, introduced on a permanent basis in recent years, represents an important lever for the building sector and for the construction supply chain. In this context, the maneuver aims to strengthen the measure as an “ordinary” and sustainable incentive, aimed at promoting the energy and structural improvement of buildings without increasing public spending.
Scrapping folders: a last selective chance
Another central chapter is that of the scrapping of tax bills, which according to the minister will be granted as a “last chance”, but not for everyone. The intent is to distinguish between taxpayers in real difficulty and subjects who have taken advantage of previous amnesties. The scrapping will therefore be selective, reserved for the “deserving” and accompanied by criteria of fairness and sustainability for public finances. The objective is to prevent the cyclical repetition of amnesties from generating expectations of amnesty, compromising the credibility of the tax system. The measure must be calibrated to favor those who want to regularize their position and those who have not been able to comply for objective reasons, while at the same time guaranteeing certainty of revenue.
Other economic measures
In addition to bonuses and scrapping, the maneuver includes:
- a possible cut in the Irpef rate from 35% to 33% for average incomes, with a bracket still to be defined;
- the strengthening of health funds, to improve assistance and treatment times;
- the introduction of automatic incentives for businesses, replacing the Industry 4.0 and 5.0 programmes, deemed too complex;
- a concerted contribution from banks on capital gains, without punitive intent.
On the social security front, a partial sterilization of the effects on the retirement age linked to life expectancy is being evaluated, while for the family the optional parental leave at 80% remains confirmed.
The maneuver should reach the Council of Ministers by mid-October, together with the budget plan intended for the European Commission. Coverage will come from selective cuts to ministries and new coordinated revenues. The Bank of Italy has recalled the need for structural measures and certain coverage, avoiding temporary interventions that are difficult to remove.
