The Council of Ministers yesterday adopted the budgetary law for the fiscal year 2023, the multiannual budget for the three-year term 2023-2025, and the revision of the Draft Budgetary Plan. The value of the measures is 35 billion euros. The budget is based on a careful and realistic plan that takes into account the current economic situation and how it affects the rest of the world. It is also good for the public finances because most of the money is spent on helping households and businesses deal with the high cost of energy and rising inflation. Other funds are used to help reduce the tax wedge and VAT on some products, increase the single allowance for families, make it easier for women under 36 and people who get citizenship income to get permanent jobs, and make it easier for young people to buy their first home. In tax matters, the flat tax is extended up to 85,000 euros for self-employed and VAT numbers, and measures for tax relief on employee bonuses are expanded. Additionally, a "tax break" is declared for citizens and businesses that have been in economic difficulty in recent years due to the effects of COVID-19 and the rise in energy prices. New pension advance schemes will be launched in 2023 (indexation of pensions at 120%), allowing you to retire with 41 years of contributions and 62 years of age, and incentives will be offered to those who choose to remain in their positions of employment. The updated "opzione donna” (women option, in English) and "Ape Sociale" (Social Bee, in English) will also be confirmed.
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