To compensate, the government adopted some cost-cutting measures.
According to the plan, Rome will increase its contribution to the country's health fund by 2 billion euros, bringing the sector's budget to 113 billion euros. "Health at the center: vaccine plan, innovative cancer drugs, stabilization of precarious [workers]," Health Minister Beatrice Lorenzin wrote on Twitter.
In addition, the government will allocate an additional 1 billion euros to colleges and universities, but also to interventions involving private pre-school institutions or those that have a relevant number of disabled students. “I hope there are no ideological controversies,” said Prime Minister Matteo Renzi.
The Stability Law also provides 1 billion euros next year for initiatives aimed at small and medium-sized companies. To compensate, the government adopted some cost-cutting measures, such as the extinction of Equitalia, the agency responsible for collecting taxes in the country.
According to Renzi, this initiative alone will provide savings of 4 billion euros. “Whoever must pay, will pay, but not the excessive interest that was foreseen in the philosophy from which Equitalia started”, he explained. The entity will be reincorporated into the Entries Agency, the main fiscal control body in the government hierarchy.
Along with the Budget, the Stability Act is one of the documents responsible for regulating Italy's economic life throughout the year. It also indicates how the country will comply with European standards, such as the 60% limit of Gross Domestic Product (GDP) for public debt and 3% for the deficit.
Ansa Agency
