BUDGET LAW

It's an Italian law that approves the annual budget of the State. The Budget Law is a formal law that can not make changes to the legislation in force and can not introduce new taxes. The government presents the Budget Law to the Italian Parliament before 30 October. According to the first paragraph of Article 81 of the Constitution, "each year, the Chambers approve the budgets and the final statement of accounts presented by the Government". In addition to establishing that the budget is annual, this constitutional requirement clearly subdivides the competencies of Government and Parliament, authorising the latter to approve the budget while it attributes to the former, and to no other body, the power (duty) to present the budget. From the economic and financial perspective, the budget decisions, are connected to the Finance Act (now Stability Law), which implements the programmatic objectives delineated in the economic and financial programming document -EFPD (now Public Finance Decision - DFP).

Editor: Giovanni AVERSA