SW News: Despite the shrinking population due to falling birthrates, the Italian Minister of Economy has devised plans to fight against the same. While addressing the questions on combating the demographic crisis, Minister Giancarlo Giorgetti emphasized the move to use tax benefits to encourage families to have children.

The minister said it’s important to remove restraints on the birth rate. He added the plans to differentiate between singles and those with families. The minister also pointed out plans to reduce the labor taxes of families with children.

The minister expressed his willingness to increase the purchasing power of the families, explicitly focusing on working women, with tax deductions according to the number of children. The minister has proposed a deduction of 2,500 euros for the first child, which will rise to 7,500 euros alongside that for the first kid. This would go up to 12,500 euros for the third and 17,500 for the fourth child.

The minister emphasized that this would be important for working mothers, providing relief and helping them enjoy their motherhood.

The minister further proposed a ‘Superbonus’ for pushing the demographic curves. He added that the goal is to bring newborns back from the current quota, which fell below 400,000 units per year in 2022, towards the 500-600,000 target.