The floor of the Senate on Thursday approved a bill reforming the Italian State budget with 184 votes in favour, 23 against and 15 abstentions. The bill, which incorporates the current annual 'stability law' on the public finances into the State budget, was not amended during its passage through the Senate after being approved by the Lower House.
The reform, a private member's bill signed by Budget Committee head Francesco Boccia, also features several changes to Italy's budget documents.
Among other things, it beefs up the ability of the premier's office and the economy ministry to act in the period between two annual budget laws if individual ministries overspend.
It also features the inclusion of a well-being index in the government's economic blueprint, the economic and financial document (DEF).
Many experts have said too much emphasis is placed by leaders on boosting gross domestic product (GDP), which focuses on economic factors and does not include other aspects affecting people's standard of living and happiness, and have called for the use of other indexes that take account of factors such as education, health, crime and the environment.
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