Translated automatically by AI from the Italian original.
ROME – The 2027–2029 budget bill has now been formally introduced in the Chamber of Deputies. The text presented by Economy Minister Giancarlo Giorgetti sets a maximum net borrowing requirement of €132.4bn for 2027, €108.5bn in 2028 and €70.7bn in 2029.
This afternoon, the Budget Committee’s board laid out the roadmap for the bill.
The timetable: hearings and amendments
The chair of the Chamber’s Budget Committee, Giuseppe Mangialavori, has confirmed the operational deadlines for the parliamentary process:
- Start of hearings (9–12 November): the cycle of hearings with social partners and institutions begins on Monday 9 November at 12pm and ends on Thursday 12 November at 4pm with the appearance of Economy Minister Giancarlo Giorgetti.
- Amendment deadline (17 November): parliamentary groups must table any proposed changes by 6pm on Tuesday 17 November.
As confirmed by the Minister for Parliamentary Relations, Luca Ciriani, and the Deputy Economy Minister, Maurizio Leo, the parliamentary stage will allow for any adjustments to the budget (within the overall €26bn envelope and around €300m reserved for MPs).
Budget highlights: income tax, housing, education and pensions
The bill addresses several key socio-economic areas:
- Tax and income tax: for 2027, income tax rates are set at 23% up to €28,000, 33% up to €55,000 and 43% above that. The flat-rate regime for the self-employed rises to €100,000 in revenue.
- Housing and cars: a 21% flat tax on commercial property (category C/1) (10% in metropolitan cities). For agreed rents signed in 2027, the rate falls to 5% (1% for the under-36s). Exemption from the car tax for one vehicle per household (up to 80 kW).
- Funding and the financial sector: transaction tax rates double and the Ires surcharge for banks and insurers rises for 2027–2028. Excise duties on tobacco increase, as do rates on slot machines and VLT terminals.
Political debate: education and pensions stir the coalition
The start of the process has reignited debate within the governing parties and with the opposition:
- Education: in response to concerns from the opposition, voiced by M5S senator Barbara Floridia, Education Minister Giuseppe Valditara and Deputy Premier Antonio Tajani have opened the door to reversing staff cuts in schools during the parliamentary conversion, boosting recruitment.
- Pensions: Deputy Premier Matteo Salvini has claimed priority for the League in scrapping the Fornero law, with a dedicated fund for “Quota 64” from 2027, while Forza Italia has said it is ready to reallocate funding to pensioners after talks with the independent unions.
The budget bill must receive final approval from both houses of Parliament by 31 December to avoid a provisional budget.
