Budget 2026, Giorgetti raises his voice: "We've been crushed, but we're right." The minister asserts his middle-class stance and calls out banks and Parliament.

In a political climate marked by harsh criticism and contrasting assessments, the Minister of Economy Giancarlo Giorgetti He chose to expose himself decisively. He did so by claiming the heart of the Maneuver 2026, emphasizing the choice to target the middle class and rejecting accusations that the personal income tax cuts favored high-income earners. This frontal attack came from the Bank of Italy, ISTAT, the Court of Auditors, and the Parliamentary Budget Office, which the minister unhesitatingly calls a "massacre," while asserting his full conviction that he was "right."

Giorgetti took center stage: "We helped those earning reasonable amounts. Not the rich."

The minister intervenes in connection with the Festival of the Industrial Territories of Bergamo and he immediately makes a point: the Budget, according to him, supports middle incomes, not the wealthy.
"We need to understand what we mean by 'rich,'" he observed. "If we consider rich someone who earns 45 euros gross, just over 2 euros net per month, then Istat, Bankitalia, and the UPB have a somewhat curious view of life."

Giorgetti rejects the narrative that the personal income tax cut would benefit the wealthiest. Instead, he advocates a multi-year strategy: significant interventions on low incomes in previous years, €18 billion allocated, and a stabilization of the contribution wedge cut, and now a clear choice in favor of the middle class up to 50 thousand euros gross.

"We've made an extra effort," he reiterates. "It seems like a sensible approach to me, especially over a multi-year horizon."

The minister doesn't hide a certain irritation toward those who, in his view, judge without considering the bigger picture: "It's easy to hand out report cards. Taking responsibility and balancing the books in a context of war, tension, and instability is a very different exercise."

Schlein's counterattack and the opposition's fire

The opposition does not lower its voice.
The secretary of the Pd Elly Schlein He reiterates ISTAT's figures: "The IRPEF tax cut favors 85% of the wealthiest in that bracket. To those earning 30 euros, it will give 30 euros a year; to those earning 199, it will give 440."

Schlein calls this "a clear political choice," which the government disguises as fair action. He adds that the tax burden "is at its highest level in the last ten years, 42,8%."

The criticisms of the Democrats are joined by those of the 5 Star Movement and of Avs. Bonelli (Avs), Giorgetti would be defending the indefensible. Mario Turco (M5s) he talks about “taxes galore”, while Giuseppe Conte accuses the Government of "pitting the penultimate against the last".

The minister's strategy: a complex political-economic balance

Despite the controversy, Giorgetti continues to defend his position, emphasizing a point often overlooked in public debate: the budget isn't limited to a revision of personal income tax.

The minister recalls that:

• were cuts to the social security contribution wedge stabilized;
• the range of beneficiaries of the interventions has been widened;
• the Government has already prepared 18 billion in favor of low incomes in previous years;
• the new intervention, according to Giorgetti, is part of a "coherent, measured and sustainable" path.

Business and Investment: Giorgetti Opens to Changes to Hyper- and Super-Depreciation

On the business front, Giorgetti sends a significant message to Parliament: the intention is to intervene on hyper-depreciation and super-depreciation, tools considered crucial to supporting innovation and investments.

"Making them multi-year would be a good thing," he explains. "It would give entrepreneurs the certainty they need to plan."

This statement anticipates likely changes during the amendment phase in the Senate, where parliamentary interventions are expected later this week.

A dig at banks: "They should go back to providing real credit."

The minister takes every opportunity to address banking institutions, urging them to decisively return to their original function: supporting the productive fabric.

According to Giorgetti, today it is "much easier for a bank to make money from static deposit management rather than from lending to the real economy."
A practice he considers not only shortsighted, but damaging to a country whose industrial structure is still largely based on traditional finance.

"Bank credit remains essential," he reiterates. "It's important to get capital flowing back into the real economy."

Between Ecofin and energy: defending Italian industry

Looking ahead to European issues, Giorgetti anticipates that at the Ecofin meeting, he will firmly defend Italy's position on gas taxation. He considers it a decisive battle: "Otherwise, it will be the tombstone for Italian industry from 2033 onwards."

The message is clear: the tax game isn't just about income tax, but also the survival of the nation's productive fabric in a rapidly changing energy landscape.

In a highly polarized political landscape, Giorgetti chooses to relaunch and place himself at the center of the debate on the budget. He doesn't shy away from technical or parliamentary criticism.
It demands consistency, defends the middle-class strategy, calls banks to their responsibilities, and opens the way to improvements for businesses.

In the tug of war over the 2026 budget, his position is not defensive, but avowedly proactive: to convey the message that the Government is working for the country's balance, "in the right way", despite the background noise.