Lunedì, 22 Ottobre 2018

Italian finance minister says budget bill open to discussion


(ANSA) - Rome, October 18 - Changes are still possible to
Italy's budget bill, Finance Minister Vittorio Grilli said
"We have said from the start that this is a draft bill; it
is a proposal and we are open to change," Grilli told television
outlet Tg1.
"We will discuss it in parliament, and if we arrive at a
different concept, we could do that".
However, Grilli defended the government's plan to boost the
VAT by 1% and as well as reductions to tax breaks as both
measures will yield more revenues for empty government coffers.
Earlier this week, the government proposed a budget bill
called the Stability Law which included a retroactive reduction
to tax deductions as well as a 1% increase in the VAT in the
second half of next year.
The VAT is currently 21% on most sales.
According to Grilli, the proposed tax changes seem "the
best composition" of measures to yield an extra 1.6 billion
euros for the government.
Premier Mario Monti has stressed that the budget measures
contained in the Stability Law do not amount to another
austerity package like the tax hikes and spending cuts his
emergency government passed last year to put Italy on course to
balancing its budget in structural terms next year.
But they still feature new cuts, including a reduction of
over one billion euros In health spending.

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