The new tax measures in the 2026 Budget Law: a halt to raising the retirement age only for those in arduous and physically demanding jobs.

The 2026 Draft Budgetary Plan (DBP), published this morning by the Ministry of Economy and Finance and submitted to the EU Commission and the Italian Parliament, outlines the main economic and social measures included in the next budget. The document covers areas ranging from pensions to personal income tax, including the financial sector and resources for families and workers.

The maneuver It will sterilize the increase in the retirement age only for arduous and exhausting jobs. The DPB specifies that “with reference to pensions, in the two-year period 2027-2028, it is confirmed, with the exception of arduous and exhausting jobs, the gradual increase in retirement access requirements linked to the adjustment to life expectancy".

The government also plans a reduction of the second Irpef tax rate, which will go from 35% to 33%, but limiting benefits for higher incomes. The document underlines that the process of reducing taxation on earned income, which began at the beginning of the legislature.

Bonuses, financing and incentives

The maneuver includes Funding for family caregivers and an increase in the bonus for working mothers with at least two children and annual incomes of less than 40 thousand euros. It is also The "Dedicated to You Card" for the purchase of basic food items has been refinanced for two years.

Among other measures, it is foreseen the extension of the ISEE with an increase in the threshold for excluding the first home and increases in the equivalence scales for families with two or more children.

The maneuver also includes a tax discount on additional wages for public sector workers, in addition to interventions in the private sector for the renewal of contracts and performance bonuses. The objective is to promote adjusting wages to the cost of living and strengthening the link between productivity and wages.

Contributions from banks and insurance companies

As regards the financial and insurance sector, the measures will cover approximately 4,4 billion euros in 2026, equivalent to 0,19% of GDP., with similar percentages in 2027 and a reduction to 0,10% in 2028. In three years, the overall figure exceeds 11 billion euros. The measure will not be a one-off, but presumably of a structural nature.

Coverage: PNRR and cuts to ministries

The restructuring of the PNRR represents the first coverage item of the budget, with approximately 5 billion euros (0,22% of GDP) in 2026. The cuts to ministries are worth 2,3 billion (0,1% of GDP) for next year, with a reduction of approximately 3 billion expected in 2028.

The Budgetary Plan therefore outlines a budget with a mix of social, fiscal, and financial measures, with particular attention to pensions for arduous workers, family support, and cost coverage through the banking and insurance sectors.