Lunedì, 15 Ottobre 2018

Letta says will cut taxes, not how to make up revenue


Rome, May 2 - Italian Premier Enrico Letta said on
Thursday that the burden on taxpayers must be lightened but
stopped short of spelling out how the new government will cover
the costs.
"Italy is under absolutely unbearable fiscal pressure in
every area. In perspective the pressure must be reduced, but
without fiscal relaxation," he said.
When asked how his government would achieve the "corrective
measures" to cover tax cuts announced in Parliament, Letta
responded: "We will decide together as a majority".
The new centre-left premier, who was sworn in with his
cabinet on Sunday, is under pressure to reveal how his
government will fund a reform of the IMU property tax.
The tax was introduced by former Premier Mario Monti and has
become a political battleground, with ex-premier Silvio
Berlusconi's election campaign dominated by his promised IMU
refund and a potentially terminal threat now hanging over the
government if Letta does not do what Berlusconi says.
The media magnate and conservative politician says he will
pull the plug on the unprecedented and unnatural left-right
executive if he does not get his way.
Letta has announced a suspension of the hugely unpopular
housing tax for June, to an estimated cost of two billion euros,
yet so far failed to announce how the government will be able to
afford the measure.
Letta has gained support for his new growth-seeking approach
from French President Francois Hollande, following a meeting in
Paris on Wednesday.
"I agreed with President Hollande yesterday that the problem
of the tax gap exists in both Italy and France," he said,
referring to the large gap between the sum an employer pays and
that which an employee receives, after taxes.
While Letta has found an ally in Hollande for his proposed
tax cuts and push for growth , he is yet to gain the support of
German Chancellor Angela Merkel who continues to insist on
austerity within the eurozone.
Merkel met Letta on Tuesday and told him that she saw no
contradiction between growth and budgetary consolidation.

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