With ever-high energy prices depressing Italy’s purchasing power, the government is preparing a new billion-dollar package to relieve the pressure. According to the Reuters news agency, a 5 billion euro package has been put together. This should compensate citizens and businesses for high energy prices.
The package is still on the table in Italy’s cabinet. Voting is scheduled for Tuesday. This mainly concerns the extension of existing measures. Among other things, the Italian cabinet wants to continue providing financial support to low-income families until June and companies will have to pay less taxes. The country previously freed up €21bn for it for 2023. Italy’s finance ministry expects to be able to pay for the new package with the existing budget.
financing
On Thursday, statistics office Eurostat released data on the European Union’s purchasing power. Italy is 4 percent below the EU average. Purchasing power in the Netherlands is 30% above average. The support package must be financed on the basis of the windfall revenues of the previous support package and not allowing for an excessive increase in the government deficit.
Source: BNR
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