Giancarlo Giorgetti proposes flat tax expansion and youth wage incentives

Italian Economy Minister Giancarlo Giorgetti has outlined several key proposals for the 2027 budget during a Lega party event. A primary focus is the potential expansion of the flat tax regime. Giorgetti suggested raising the revenue threshold for self-employed workers (partita IVA) from the current 85,000 euros to 100,000 euros, though he noted this would require negotiations with the European Union.

To support younger workers, Giorgetti proposed a fiscal incentive—described as a “sort of flat tax”—for companies that increase salaries for youth. This measure aims to encourage higher wages and combat brain drain, provided it aligns with employer willingness to pay.

Regarding pensions, the Minister addressed the Lega's proposal to allow early retirement at age 64. He characterized the current system as having a “distortion” between those who began working before 1996 and those who started after. However, he emphasized that any such reform must ensure long-term fiscal sustainability and maintain the balance of public accounts.

Additionally, Giorgetti touched upon banking competition, suggesting that increased competition would naturally reduce bank extra-profits, and briefly mentioned the strategic importance of the Tim telecommunications operation.