The budget is growing in value. With a new €3.5 billion package of amendments, the government adds another substantial piece to the budget law passed two months ago .
Economy Minister Giancarlo Giorgetti appeared in person at the Senate to announce the amendment, which will arrive only in the next few hours , as well as providing reassurances regarding the Bank of Italy's gold and the timing and methods of its examination.
But the surprise move risks complicating the process in the committee. The opposition is protesting, denouncing the "chaos" within the executive branch, which continues to rewrite the text.
Giorgetti explains: "I rightly wanted to clarify the gold issue to Parliament because they've only read about it in your newspapers" and "explain this government amendment," initially announced for this afternoon. An amendment, he clarifies when prompted by reporters, on ZES and Transition 5.0, given that "we've had significant questions beyond our expectations," which "we believe we should at least reasonably cover." The amendment, according to what was reported to senators, is worth €3.5 billion (which should be spread out over 2026 alone) and would include measures on ZES, hyper-depreciation, Industry 5.0, and the cost of materials, as well as moving funding for the Strait of Messina bridge to another year and additional resources—according to one of the speakers, Lega Nord's Claudio Borghi—for the Housing Plan.
Considering the reformulations that arrived in recent days, which amount to approximately €1 billion, the value of the budget—which, as initially drafted by the government, is worth €18.7 billion for 2026—seems destined to increase.
The government's new amendment, however, risks complicating the timetable. The change is "important" and "inevitably will take up some additional time," Giorgetti himself acknowledges. The opposition is, in fact, demanding it.
"Giorgetti admits what we've been denouncing for weeks: the budget isn't viable and needs to be rewritten," says Democratic Party group leader Francesco Boccia. "The budget is essentially nonexistent, because it needs to be partially rewritten and Parliament voted no," adds the Five Star Movement. "This is unprecedented. We demanded all the time we needed to evaluate it thoroughly," says IV group leader Raffaella Paita. "The Senate is held hostage by the majority's divisions," also attacks AVS, which promises a battle over social security. Indeed, according to senators, the amendment's funding is expected to come from social security and insurance. In the committee, Giorgetti also reassures the committee regarding the amendment on Bank of Italy's gold. The final wording, read by the minister, cites the Treaties and establishes that "the gold reserves managed and held by the Bank of Italy, as recorded in its balance sheet, belong to the Italian people." With this version, "we believe the matter can be considered closed: we are fine with the ECB," assured the Minister of Economy and Finance, on the day the Eurotower took aim at the measures being implemented on banks.
(Unioneonline)
