Adnkronos (Adnkronos) – From the IRES increase for banks to the IRPEF cut for incomes up to €55, including measures for young people and families, the budget bill, approved by the State Accounting Office, comprises 157 articles. President Sergio Mattarella then authorized the Budget Bill's submission to Parliament.
The piggy bank for newborns is coming.
The bill stipulates that, in order to "promote a culture of savings and pension planning among young people and encourage the establishment of long-term savings from birth," a separate accounting system will be established at INPS (National Institute of Social Security) starting January 1, 2027, for children born from 2027 onwards.
Within three months of birth, the Institute "establishes an individual account within the fund, in the name of the minor, with a payment from the State of €100 per year until the child reaches the age of eighteen, and notifies the parents or whoever has parental responsibility." Parents, relatives up to the third degree, and relatives by marriage up to the second degree can contribute to the funding of the account through voluntary payments.
The rules governing automatic pension revaluation have changed: the system reverts to six brackets and the overall amount mechanism.
The 100% revaluation applies to payments equal to or less than four times the minimum INPS payment, after which it decreases. However, "safeguard mechanisms are in place for payments near the different thresholds." The provision "aims to redetermine the pension indexation mechanism for 2027, providing for the application of a mechanism similar to that applied in 2023," explains the technical report, which emphasizes how the provision will have "positive structural effects on public finances."
Specifically, for higher pensions and with reference to the total amount, the revaluation is instead recognized at 85 percent for pensions equal to or less than five times the INPS minimum pension; at 53 percent for pensions greater than five times the INPS minimum pension and equal to or less than six times the minimum pension; at 47 percent for pensions greater than six times the INPS minimum pension and equal to or less than eight times the minimum pension; at 37 percent for pensions greater than eight times the INPS minimum pension and equal to or less than ten times the minimum pension; and at 32 percent for pensions greater than ten times the INPS minimum pension.
A 3 percentage point increase in the IRES surtax for the financial sector. "For the tax period following that in progress on December 31, 2026, and for the subsequent tax period," the IRES surtax "is increased by 3 percentage points." Mutual fund management companies and securities brokerage firms as defined in the Consolidated Law on Financial Intermediation, as well as electronic money institutions registered in the Imel register, are excluded. Insurance and reinsurance companies will also be subject to a 3 percentage point surtax for the two tax periods following December 31, 2026.
A decreasing increase in IRAP (regional business tax) is therefore expected for energy companies. "For entities primarily engaged in mining, energy supply, transportation, and storage activities, IRAP will increase by 5 percentage points for the tax period following that in progress on December 31, 2026; by 3 percentage points for the tax period following that in progress on December 31, 2027, and for the subsequent tax period." Furthermore, "the increased tax burden resulting from the application of these provisions may not be passed on, directly or indirectly, to the prices, tariffs, and fees for goods and services provided to customers, including through increased commissions and other charges."
The level of funding for the standard national healthcare requirement to which the State contributes "is increased by €2.365 million for 2027, €2.352 million for 2028, and €2.399 million annually starting in 2029." This is provided for in Title V 'Healthcare Measures', Article 69 of the approved budget law. A portion of the increase, amounting to "€500 million annually starting in 2027, is earmarked to update the maximum fees for acute hospital care services provided under the ordinary and day hospitalization regime." "€100 million is earmarked for 2027 for additional funding of expenses for Alzheimer's disease and other dementia-related conditions."
To recognize the special working conditions of medical management and healthcare personnel employed by National Health Service companies and entities and working in emergency departments, "these are further increased, effective January 1, 2027, by a total of €380 million, of which €114 million for medical management and €266 million for healthcare personnel" to define the specific allowance.
Within the increased healthcare requirement, "a portion of 138 million in 2027, 236 million in 2028, and 273 million in 2029 will be freely available to the regions and autonomous provinces, also to cover any costs arising from the effects of inflation."
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