Italy Approves Budget Plan with Newborn Savings Fund, Energy Cost Relief
Under the proposal, each newborn would receive an annual state contribution of €100 ($116) from 2027 until reaching the age of 18. Government sources said the money would be deposited into a pension savings fund.
The initiative was put forward by Economy Minister Giancarlo Giorgetti.
The Cabinet also endorsed a decree designed to ease energy costs for consumers and companies. The measure establishes a price ceiling of €58.9 ($68.5) per megawatt-hour, with the scheme expected to apply for a period of 12 to 18 months.
Other items approved or considered by the Cabinet included a legislative decree to overhaul regulations governing the craft sector and another measure to reorganize rules for outdoor seating areas.
The proposed budget forms part of a wider €23.5 billion package of measures planned for 2027, as outlined in the draft budgetary plan previously submitted to the European Commission and the Italian parliament.
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