An “overall, prudent” maneuver, but built largely on revenues that will not last over time and on measures destined to expire already at the end of 2027. This is the opinion of the Court of Auditors on the 2027-2029 budget law, expressed in the hearing of the Budget commissions of the House and Senate. Accounting magistrates recognize the objective of keeping public debt under control, but point out the risk of postponing important costs and decisions to subsequent years.
The “tax” hidden in Italians’ bills
To finance the interventions, the government resorts to 43 percent of the new deficit. In fact, the maneuver increases debt by around 30 billion over the three-year period compared to previous forecasts: 12.6 billion in 2027, 13.7 in 2028 and 3.7 in 2029. The planned deficit rises to 3.4 percent of GDP in 2027, remains at 3.2 percent in 2028 and returns below the 3 percent threshold only in 2029.
Super hidden bonus
The main issue is the roofing. According to the Court, in 2027 only 30 percent of the increased revenue is permanent: 25 percent is temporary and the remaining 45 percent derives from revenue advances which will lead to lower future collections. Among the most significant operations is the installment over ten years of the Superbonus tax credits accrued in 2023: it improves the cash requirement for 2027 by 18.5 billion, but shifts burdens to subsequent years up to 2036.
School chasm
Critical issues also emerge in schools. From 2027-2028 the maneuver provides for the permanent reduction of another 6,974 positions, including teachers and administrative, technical and auxiliary staff. Adding the cuts already made by the 2025 budget law, the contraction reaches 14,808 units. The Court observes that there is a lack of sufficient information to verify the consistency of the reductions with the decline in students, which varies greatly from territory to territory.
On the fiscal front, the Irpef adjustment guarantees up to 500 euros of savings per year, but is only foreseen for 2027 and only for the highest incomes.
| Annual taxable income | Irpef savings 2027 |
| €30,000 | €0 |
| €50,000 | €0 |
| €51,000 | €100 |
| €53,000 | €300 |
| €55,000 | €500 |
| €100,000 | €500 |
Other reliefs, from the preferential taxation of some salaries to the 300 euro health card for certain elderly pensioners, are also temporary. To raise cash, the focus is instead on the revision of spending on social security: the reduction in the revaluation of some pensions generates structural savings of around 1.5 billion per year. The Court recognizes the value of the investments planned for infrastructure, energy and defense, but calls for more stable coverage and a comprehensive review of public spending. The risk, in short, is that the immediate benefits of the maneuver will require new resources and new choices as early as the next budget.