Italy is set to approve a package worth more than €500 million ($532 million) to help businesses and households cope with soaring gas bills, including a fuel payment for less well-off families, according to people familiar with the matter.
Prime Minister Giorgia Meloni’s right-wing government is planning to offer a monthly €80 check for the purchase of fuel to about 1.3 million families that earn less than €15,000 per year, and in particular prioritizing larger families with small children, said the people who asked not to be named because discussions are ongoing.
The government is also expected to extend to Dec. 31 some measures in support of businesses and households. These include a zero-rated VAT on gas system charges, a reduced 5% VAT on gas, district heating, and energy produced with methane gas, and a discount on electricity and gas bills for families in the lowest income bracket, the people said. Italian newspaper Corriere della Sera reported part of the measures earlier Monday.
“As the energy crisis fades, governments should continue to roll back the related support measures to avoid driving up medium-term inflationary pressures,” Lagarde told lawmakers in the European Parliament. “At the same time, fiscal policies should be designed to make the euro area economy more productive and to gradually bring down high public debt.”
The government has little room for maneuver given Italy’s mammoth debt. The deficit is seen increasing to over 5% this year and to almost 4% next year due to a one-time house renovation tax break known as the Superbonus, which Meloni has canceled but is still wreaking havoc on public accounts.
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