Italian prime minister Giorgia Meloni plans to spend €24bn on tax cuts and public sector pay rises next year to spur consumption and support faltering growth, despite investors’ concerns about the country’s finances.
After her Cabinet approved next year’s budget on Monday, Meloni said her three-party, rightwing coalition was working to fulfil the promises made during last year’s election, despite pressure on the public finances.
“It is a budget that I consider very serious, very realistic, a budget that . . . concentrates resources on some big priorities,” Meloni said. “Our first priority is to defend the purchasing power of families.”
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