The announcement came via his Twitter account ahead of a cabinet meeting on Friday morning.
Avevo promesso ad aprile abolizione finanziamento pubblico partiti entro l'anno.L'ho confermato mercoledì.Ora in cdm manteniamo la promessa.— Enrico Letta (@EnricoLetta) December 13, 2013
"I promised in April to abolish public funding for political parties by the end of the year. I confirmed this on Wednesday. Today, the council of ministers will keep the promise."
Letta's pledge to scrap party funding came after a series of high-profile corruption scandals across various levels of the country's political system.
Reform Minister Gaetano Quagliariello also took to Twitter to announce the move, adding, "Now we move forward with the reduction of the number of parliamentarians. These are deeds".