Italy’s Renzi vows to cut tax burden by double-digit figure

Italy’s Renzi vows to cut tax burden by double-digit figure

PanARMENIAN.Net - Italian Prime Minister Matteo Renzi vowed to cut the tax burden by a double-digit figure by the first half of 2014 in a speech to the Senate in which he outlined an ambitious series of measures on Monday, Feb 24, according to Reuters.

The tax wedge, which is the difference between what a company pays each worker and the worker's take-home pay, was estimated to be 47.6 percent in 2012 by the OECD, the sixth-highest in the group of the 34 member countries.

Renzi said he would pay off all arrears held by public administration through a different use of the state holding company CDP, would set up a guarantee fund for small companies, and would free up billions of euros to invest in school infrastructure.

He also said he aimed to put forward a comprehensive justice reform package by June and boost welfare payments for the unemployed.

Related links:
 Top stories
“Erdogan stressed in the past that they would never allow the unification of Kurdish cantons in northern Syria,” Demirtas said.
The Boeing 777 travelling from Kuala Lumpur to Beijing with 239 people on board vanished without trace in March 2014.
Turkey made the request under Article 4 of NATO's founding treaty, which allows countries to ask for consultations.
Speaking before the vote, PM Alexis Tsipras stressed that he was not happy with the measures that creditors had imposed.
Partner news