Giovedì, 20 Settembre 2018
ROME

Italian employers oppose Berlusconi's line on property tax

English
© ANSA

Rome, May 7 - Italian industrial employers'
confederation Confindustria waded into a high-voltage political
debate on Tuesday when President Giorgio Squinzi said cutting
labour taxes was more important than scrapping the IMU property
tax.
IMU is at the centre of the political tensions for Premier
Enrico Letta's fledgling left-right government as former prime
minister Silvio Berlusconi's People of Freedom (PdL) party is
threatening to pull its support and sink the executive unless
the widely despised tax is abolished.
Berlusconi also wants the 2012 revenues collected from IMU
returned to taxpayers to respect the key pledge he made in the
run-up to February's inconclusive general election.
Letta has said that June's IMU payments would be suspended
as part of a review of the tax, but he has not promised to
abolish it completely.
"It is absolutely more important to intervene on labour
taxes than on house ones," Squinzi said.
"The priority at the moment is jobs and regaining growth".
Reducing labour taxes is seen by many as a good way to
promote job creation, with almost three million Italians
unemployed and close to four in 10 young people on the dole as
the country endures its longest recession in 20 years.
Last week OECD Chief Economist Pier Carlo Padoan said that:
"if the priorities are growth and jobs, the first thing to
cut is labour taxes... Reducing labour taxes is more important
than reducing IMU".
IMU was instituted among a series of austerity measures
under former premier Mario Monti's emergency technocrat
government to restore health to Italy's public finances.
Abolishing IMU and reimbursing the 2012 revenues from it
would create a hole of around eight billion euros in this year's
budget.

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