Overview

• Confindustria has begun meetings with government officials on the 2026 budget and is asking for roughly €8 billion annually for three years to support an industry-first plan.
• The request targets a rollover and relaunch of incentives expiring at year’s end, including Transizione 4.0/5.0, the ZES Unica for the South, and core R&D tax credits.
• Calling energy costs “unsustainable,” Orsini urges swift adoption of a disaccoppiamento mechanism to protect energy‑intensive companies.
• Early signals from the government include Deputy Finance Minister Maurizio Leo’s pledge to work on stabilizing IRES and Minister Adolfo Urso’s push to revise and streamline 4.0/5.0 measures.
• Lega outlined budget priorities focused on household income and a 15% flat tax with higher contributions from profitable financial firms, while Orsini presses the EU on investment tools such as Eurobonds and warns about U.S. pull factors and euro‑dollar risks.