Lunedì, 24 Settembre 2018

Italian economy minister says new budget cuts necessary


(see related)
Rome, July 25 - A new round of public spending cuts
is in store for Italy, the Italian economy minister told the
Senate finance commission on Thursday.
Economy Minister Fabrizio Saccomanni assured the finance
commission that there was still "ample room" to slash waste and
still provide Italian citizens "high quality" public services.
Italy has repeatedly cinched its budget and raised taxes in
recent years as various administrations have grappled with an
outsized public debt, a tax-base weakened by years of recession
and crisis brought on by spiralling interest rates in 2011 and
"To support economic recovery and a prospect of
sustainability to the country, as well as restructuring the tax
burden, we must flank (these initiatives) with spending
rationalization," said Saccomanni.
The minister added that spending cuts were a "necessary
condition for a permanent and meaningful reduction of the tax
Moreover, the minister said, "We must consolidate progress
in spending controls accumulated over the course of the last few
years and carry out new ones, permanently changing the criteria
and procedures for budget procedures and the use of public
"At the end of this route, a significant rethinking of the
public machine will result".
"There is ample room for rationalizing spending to obtain
savings in many areas and to simplify the public apparatus
without renouncing the delivery of high quality services".

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