Venerdì, 21 Settembre 2018

Monti's govt could face rebellion over budget measures


Rome, October 22 - Premier Mario Monti could face a
rebellion from the parties that support his emergency executive
over the budget measures contained in its so-called Stability
Monti on Monday is set to start a series of meetings about
the budget with the leaders of the three main groups his
technocrat administration relies on for support in parliament -
ex-premier Silvio Berlusconi's centre-right People of Freedom
(PdL), the centre-left Democratic Party and the centrist UDC.
The package features reductions in income tax in the two
lowest bands and a series of cuts that will hit sectors
including health and eduction.
It also features a 1% increase in value added tax, rather
than a 2% hike scheduled for July 2013 that the government had
said it hoped to avoid completely, and a reduction in tax
deductions for the current tax year - which effectively makes
this a retroactive measure.
PdL Secretary Angelino Alfano said at the weekend raising
VAT and altering tax deductions would constitute a "betrayal" of
the pact between the State and the public.
PD leader Pier Luigi Bersani, meanwhile, said his party
would not vote for the education cuts.
Bersani recently said he feared the cuts would cost the
jobs of over 6,000 Italian school teachers.
Monti's government has said it is willing to accept some
amendments to the Stability Law during its passage through
The premier has stressed though that the measures do not
amount to another austerity package like the tax hikes and
spending cuts his government passed last year to put Italy on
course to balancing its budget in structural terms next year and
take the country out of the centre of the eurozone crisis.
The income-tax rate will be cut to 22% from 23% for those
earning less than 15,000 euros per year, and to 26% from 27% for
salaries between 15,001 and 28,000 euros, while the top three
bands will remain unchanged.
VAT, on the other hand, will go up from 10% to 11% in the
lower band and 21 to 22% in the top band.
The cuts include a reduction of over one billion euros in
health spending.

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