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Italy approves 24 billion-euro budget that aims to boost household spending and births

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Published 5:29 AM

By COLLEEN BARRY
AP Business Writer

Italy’s far-right-led government has approved a budget for next year that aims to bolster public health services, encourage families to have more children and put more money in the pockets of low- and medium-wage earners. Premier Giorgia Meloni said the 24 billion-euro budget is in line with the government’s priorities. It includes 5 billion in spending cuts. She described the budget as both “serious” and “realistic,” even as Italy faces an increase of 13 billion euros in payments to service its public debt as interest rates increase. Meloni says a cut in payroll taxes will put 100 euros a month in the pockets of 14 million Italians to boost spending power amid higher inflation.

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