From the resources for Transition 5.0 to the Strait Bridge, up to the new cash cap of 10 thousand euros with stamp duty (the new European rules are also on the way): what changes in the budget law and where the coverage will be found
The Maneuver is growing again and is doing so on multiple fronts, including coverage to be found and new political priorities. The government has announced a package of changes worth around 3.5 billion euros, including innovations ranging from the Strait Bridge to Bank of Italy’s gold and support for businesses. And on the table is the topic that returns cyclically, the use of cash. An amendment could partly change the rules on payments in banknotes. A move that is intertwined with future European standards set for 2027.
The maneuver rises: an increase of 3.5 billion
The value of the 2026 maneuver increases. A new intervention of 3.5 billion is added to the initial 18.7 billion, announced directly by the Minister of Economy Giancarlo Giorgetti in the Senate Budget Committee. A choice that obviously lengthens the parliamentary process and reignites the clash with the opposition, who speak of a budget law that is continually rewritten and of a Parliament that is sidelined.
The heart of the change concerns the business support. The government intends to strengthen the single special economic zone of the South, refinance Transition 5.0, extend and stabilize hyper-depreciation and intervene on construction sites affected by the high cost of materials. And the roofing? Part of the resources could come from the insurance sector, with an additional contribution that risks being reflected in the costs of the policies, starting with Motor TPL. Other resources could derive from complementary pensions, with a more decisive push towards silent consent for new hires and new allocations for the pension funds of the police force and the fire brigade.
Among the most politically sensitive chapters is the reprogramming of funds for Bridge over the Strait of Messina. The government reiterates that this is not a defunding, but a time shift linked to procedural delays and the in-depth investigations requested by the Court of Auditors.
The game seems to be over, at least for now on Bank of Italy’s gold. After discussions with the European Central Bank, the amendment was reformulated clarifying that the gold reserves belong to the Italian people, but are managed and held by the Bank of Italy in full compliance with the European Treaties. A necessary clarification to avoid friction with Frankfurt. New resources are arriving for Fund to support the families of victims of serious accidents at work: 30 million in 2026 and 27 million starting from 2027, intended to increase the lump sum paid to survivors. On the culture front, the government has allocated one million euros for 2026 in favor of Matera Mediterranean Capital of Culture and Dialogue and 5 million in 2028 for the Teatro alla Scala, in view of the 250th anniversary of its foundation.
Cash: the amendment in the Maneuver that raises the ceiling to 10 thousand euros, with a stamp duty
The Maneuver also includes a limit on cash payments. An amendment by Fratelli d’Italia proposes to raise the de facto threshold from 5 thousand to 10 thousand euros, while introducing a special stamp duty of 500 euros for each cash payment between 5,001 and 10 thousand euros. The League has said it is in favor of the increase, but is pushing to cancel the price to be paid. This would be an “indirect” increase in the threshold, which seeks to keep together two opposing needs: on the one hand the political will to loosen the restrictions on cash, on the other the need not to completely dismantle the tools to combat tax evasion and money laundering.
The history of the cash limit in Italy began in 1991 when it was set at 20 million lire. Then it was gradually lowered to one thousand euros in 2011, then raised to 3 thousand in 2016 and reduced again in the following years. The current government has brought it back to 5 thousand euros in 2023. The amendment now under discussion represents yet another change of direction.
From 2027 the European cap on the use of cash: what really changes
Beyond national choices, the picture is destined to change with the entry into force of the European regulation approved in 2024. From 10 July 2027, a maximum threshold of 10 thousand euros will apply throughout the European Union for cash payments linked to professional and commercial activities. The limit will not apply to payments between individuals who do not carry out business or professional activities. The regulation introduces a common principle, but leaves the possibility to Member States to maintain lower thresholds. Those who today have stringent limits, such as France or Spain, will not be forced to raise them. Furthermore, individual countries remain responsible for sanctions for those who violate the rules. In this context, the Italian amendment moves along a borderline. On the one hand, it anticipates, at least symbolically, the European ceiling of 10 thousand euros; on the other hand it introduces an additional cost that could limit its effective use. In Europe today the picture is not uniform. Germany, Austria, the Netherlands, Ireland and Sweden do not have formal limits on cash payments, although identification and reporting obligations are triggered above certain thresholds. At the other extreme there are countries such as Greece, France and Spain, where the ceiling is set at 500 and one thousand euros respectively. Outside the European Union, the United States and the United Kingdom have no formal limits on cash, but apply stringent controls on suspicious transactions and anti-money laundering reporting requirements.
