From corporate tax deductions to financial schemes aimed at stopping the country's brain drain, the coalition is scrabbling to reverse poor forecasts after Italy slid into a technical recession in the second half of 2018.
The so-called “growth decree” adopted by the hard-right League and anti-establishment Five Star Movement allocates €1.9 billion over three years to the measures, which focus mainly on companies.
- 2.7 million people apply for Italy's basic income scheme
- Number of Italians at risk of poverty reaches record high
- Italy loses 10,000 doctors in 10 years to emigration
It prolongs tax breaks on investments in machinery and real estate, while reducing corporate taxes. It also earmarks some €500 million for municipalities, to be used on energy-saving projects or to shore up public buildings in seismic areas.
Young Italians get a hand with purchasing their first home, graduates who have headed abroad are offered financial incentives to return, and the government also plans to compensate savers hit by the failure of small regional banks.
“We are giving a strong boost to the country's economic recovery, with concrete measures to support businesses and investments,” Prime Minister Giuseppe Conte said on Facebook.