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Italy Budget Talks Center on Pensions as League Moves to Freeze Age Rise With Bank and Insurer Tax Hike

Tight fiscal room tied to plans to exit EU deficit scrutiny is set to determine which pension changes survive the Senate’s budget rewrite.

Overview

  • Lawmakers from across parties are pushing to extend Opzione Donna and Quota 103 into 2026 after the budget bill reached the Senate with only the Ape sociale early-exit option.
  • The League has filed an amendment to halt for two years the life-expectancy-based increase in retirement requirements in 2027–2028, financed by doubling the planned IRAP rise on banks and insurers.
  • The Economy Ministry has proposed a gradual adjustment instead, with the threshold rising by one month in 2027 and two months in 2028.
  • Economy Minister Giancarlo Giorgetti warned that limited budget space linked to exiting the EU excessive‑deficit procedure means new measures must be credibly funded or offset by cuts.
  • Parliament faces a tight timetable to select priority amendments by Wednesday ahead of a majority leaders’ meeting expected Thursday, with Forza Italia also proposing a 21% flat tax for 2026 commercial leases.