Italy’s parliament has approved the government’s 2025 budget, worth a total of 30 billion euros — more than half of that in tax cuts and social security benefits for low-income citizens.

The Italian Senate on Saturday passed the government's deficit-cutting 2025 budget, giving parliament's final approval to the package which becomes law just ahead of an end-year deadline. Prime Minister Giorgia Meloni's third budget aims to lower next year's fiscal deficit to 3.

Over half of the package, worth some 30 billion euros ($31 billion), is devoted to cuts on tax and social security contributions for low, middle-income earners