Italy's Cabinet approved a 26 billion euro ($29 billion) budget for 2027, the coalition's last before next year's general election, raising the ceiling of the 33% income tax bracket to 55,000 euros, extending the 15% flat tax for self-employed income up to 100,000 euros, adding pension, family and rental relief and making a road tax exemption for most cars permanent, Il Sole 24 Ore reported on Oct. 28. Over 5 billion euros will come from raising the corporate tax rate on banks and insurers, and from a higher financial transaction tax.