Italy, which pushed hard for more EU support at the height of the crisis, is set to receive the largest share: 209 billion euros, or 28 percent of the entire rescue fund.
- Digitalization, innovation and growth
- Green policies aimed at decarbonisation
- Transport infrastructure
- Education, training, research and culture
- Social cohesion and gender equality
Some of the main targets set out in the document include:
- Doubling the country's economic growth rate, bringing it up from a pre-crisis average of +0.8% over the last decade to 1.6% in line with the European average.
- Increasing in the employment rate by 10 percentage points, from the current 63% to 73.2%, closer to the avergae in other EU member states.
- Increasing research and development expenditure to 2.1% compared to the current 1.3%.
Where is the money going?
Nearly 35 billion is destined for hospitals, while schools will receive funding for 368,000 new classrooms and updated equipment, as well as computer voucher to be made available to all families with school-age children. Funds have also been allocated for scholarships.
it is expected that the roll-out of 5G will be financed by the recovery fund in at least 100 cities.
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The government sas it wants to completely overhaul Italy's tax system, creating “a tax system favorable to growth” by cutting taxes for the middle classes, particularly for families.
The document details plans for “a comprehensive reform of direct and indirect taxation, aimed at designing a simple and transparent fair tax for citizens, which in particular reduces the tax burden on the middle classes and families with children and accelerates the transition of the economic system towards greater environmental sustainability “