Domenica, 23 Settembre 2018

Business union chief says cutting labour costs top priority


Genoa, June 14 - Italy's chief priority is cutting
labour costs rather than scrapping a controversial real estate
property tax IMU or averting a planned increase in a value-added
tax, the president of Italy's business union Confindustria
Giorgio Squinzi said on Friday.
''For us, this is the top priority'', Squinzi said, calling
for a deduction of labour costs in the regional production tax
IRAP and to cut down by 11 points a tax on labour.
On Thursday, Economy Minister Fabrizio Saccomanni said
cutting the unpopular IMU property tax without raising a
value-added tax by 1% was ''preposterous'' and would force
massive spending cuts elsewhere.
Saccomanni said scrapping IMU, a key issue for the
center-right, would cost four billion euros.
In addition, he said freezing a VAT increase scheduled next
month, taking it from 21% to 22%, would cost another four
billion euros.
Ex-premier Silvio Berlusconi, founder of the center-right
People of Freedom (PdL) party backing Italy's unprecedented
left-right government coalition, has said that if IMU isn't
scrapped, he will make the cabinet fall.

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