Italy Weighs Energy, Defense Plan Before Election, Corriere Says

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessItaly Weighs Energy, Defense Plan Before Election, Corriere SaysItalian Prime Minister Giorgia Meloni’s government may propose a pricey energy security and defense spending plan ahead of 2027 general elections, according to Corriere della Sera.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.Giancarlo Giorgetti. Photo by Alessia Pierdomenico /Photographer: Alessia Pierdomeni(Bloomberg) — Italian Prime Minister Giorgia Meloni’s government may propose a pricey energy security and defense spending plan ahead of 2027 general elections, according to Corriere della Sera.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe measures — which would need to be evaluated by European fiscal authorities — could include investments in energy infrastructure and measures to reduce carbon emissions, Corriere reported on Saturday. Finance Minister Giancarlo Giorgetti may seek parliamentary approval in September for a budget deviation that would allow the government to widen deficit targets and create room for additional spending, the Milan-based daily newspaper said. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againGiorgetti is expected to brief lawmakers on Aug. 5 on the national escape clause, an European Union rule allowing temporary budget flexibility in exceptional circumstances.The proposal could come with a price-tag of about €14 billion ($15.9 billion), according to Corriere, which didn’t say where it got the information. No decisions have been finalized, the plans could still change, and the scope of any potential deviation remains under discussion, according to the report. The development comes as Italy faces renewed pressure from high energy costs. In parallel to the package, Meloni’s government is working on a cut to fuel excise duties paid by Italy’s motorway network. Fuel prices are increasing on the back of US-led war in Iran, with the average self-service price standing at €2.069 per liter (about $8.90 per gallon) for gasoline and €2.249 per liter for diesel, according to the latest government data. Meloni’s government has used temporary fuel tax relief measures to buffer drivers during previous energy shocks and is considering further intervention.The European Commission has allowed Italy to use additional fiscal flexibility for certain energy security investments alongside defense spending under EU fiscal rules, rather than for broad fuel tax cuts. According to Corriere, the framework could give Italy room for as much as €14 billion in spending over two years, although any increase in deficit spending would require approval by Italy’s parliament. This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.