AssetID: 55943933
Headline: UNCAPTIONED: Italy's Salvini calls for €20 billion increase in 2027 budget deficit
Caption: Italy’s Salvini calls for €20 billion increase in 2027 budget deficit. Italy’s Deputy Prime Minister Matteo Salvini has called for the government to increase its budget deficit by at least €20 billion ($23.3 billion) in 2027, arguing that the measure would not require approval from the European Union. Salvini, leader of the League, said he plans to formally propose the additional deficit spending in the coming days and insisted it should be a national decision. His proposal puts him at odds with Prime Minister Giorgia Meloni, who has recently defended a cautious fiscal policy and said Italy has a good chance of exiting the EU’s excessive deficit procedure. Salvini also said he would push for a special levy on large banks, dismissing concerns that the measure could unsettle financial markets. He backed extending a tax on excess profits to energy companies and argued that banks, insurers, energy firms and oil companies should contribute more during a period of economic difficulty. The proposals come ahead of Italy’s general election next year, increasing pressure on the government to consider additional spending measures. However, greater deficit spending could clash with the need to comply with EU fiscal rules, particularly as Rome seeks to end the excessive deficit procedure. The dispute is therefore expected to become a key issue in negotiations over Italy’s 2027 budget, which the government is expected to present in October. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Italy,Rome,Matteo Salvini,League,Giorgia Meloni,prime minister,general election,parliament,proposal,deficit,20 billion,expenditure,cost of living,energy companies,taxes,banks,European Union,policies,priorities,fiscal responsibility
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