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Italy approves new stimulus package

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Italy has approved a new stimulus package in its 2021 budget to foster an economic rebound from the recession caused by the pandemic, its government has said after a late-night cabinet meeting.

The ruling coalition, led by the anti-establishment 5-Star Movement and centre-left PD party, agreed a preliminary version of the stimulus package, a government source said, leaving final details to be hammered out.

Among measures to support the health and education system, the government will set up a €4bn fund to compensate companies worst hit by lockdowns.

The budget also extends temporary lay-off schemes for companies with workers on furlough and offers tax breaks to support employment in the poor south of the country.

The Italian prime minister Giuseppe Conte on Sunday is expected to also announce new measures to curb the steady spike in cases over recent weeks.

Read more via ANSA

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