Arab Today, arab today italy\s 2014 budget bill opens divisions within majority parties
Last Updated : GMT 22:27:42
Arab Today, arab today
Arab Today, arab today

Italy\'s 2014 budget bill opens divisions within majority parties

Arab Today, arab today

Arab Today, arab today Italy\'s 2014 budget bill opens divisions within majority parties

Rome - XINHUA

Deep differences emerged on Friday among lawmakers of the Italian majority parties over the 2014 budget bill approved by the left-right government of Prime Minister Enrico Letta earlier this week. Members from the center-left Democratic Party (PD) and its center-right partner People of Freedom (PdL) said the package, which features a 27.3-billion-euro (37.3-billion-U.S. dollar) adjustment in public finances over the 2014-2016 period, did not do enough to boost the much needed economic recovery. PD\'s Deputy Economy Minister Stefano Fassina said that the strategy to cut public spending and reduce labor costs was mistaken, while according to Sandro Bondi, a PdL senator and former culture minister, the package was hiding \"disguised taxes.\" The budget bill, which has now has to be scrutinized and approved by parliament by the end of the year, foresees government privatizations to help reduce the Italian massive debts. Health cuts were not included in the package, while a recently scrapped home tax was incorporated with local rubbish and service levies into a lighter tax. Letta also promised that overall tax burden would decrease from 44.3 percent to 43.3 percent for families and businesses over three years. Former prime minister Mario Monti on Friday confirmed his \"irrevocable resignation\" as founder and head of the centrist Civic Choice party over the bill, that he sharply criticized saying it was \"timid\" in tax cuts and did not do enough to stimulate growth. Monti, whose technocratic government had managed to restore Italy\'s credibility when the country was on the edge of a dramatic debt crisis in late 2011, added that he would remain in the Senate within its mixed party grouping. Also on Friday, Italian banking and industrial associations complained in a joint statement that \"rapid and decisive action aimed at cutting public spending was missing\" from the budget bill and called for \"more incisive reduction in taxes and in labour costs.\" Meanwhile, labor unions, which represents millions of workers in Italy, have threatened to strike over linear spending cuts and a freeze on public-sector salary rises. \"Now the bill will pass to parliament where we will try to improve some aspects,\" Economic Development Minister Flavio Zanonato said. He acknowledged that the package was lacking some \"numbers.\" \"For example, I would have liked much greater cuts in the tax wedge,\" the minister noted. Echoing his words, Minister of Public Administration and Simplification Giampiero D\'Alia highlighted that the government was willing to \"collaborate with parliament,\" because the package \"can and should be improved.\" Italy, whose economy is contracting among soaring unemployment and declining spending power, has been struggling to keep its deficit below 3 percent of gross domestic product (GDP) to meet the European Union (EU) ceiling. The country\'s public debt, which will rise to 134 percent of GDP next year according to estimates of the Organization for Economic Cooperation and Development (OECD), is the second largest in EU after Greece.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today italy\s 2014 budget bill opens divisions within majority parties Arab Today, arab today italy\s 2014 budget bill opens divisions within majority parties

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 05:26 2017 Sunday ,19 February

US natural gas market tightens

GMT 05:06 2017 Sunday ,19 February

Merkel: Euro is too low for Germany

GMT 04:58 2017 Sunday ,19 February

Swedish PM: Brexit deal in 2 years is unlikely

GMT 20:02 2017 Saturday ,18 February

Gold edges higher as global equities lose momentum

GMT 10:20 2017 Thursday ,16 February

New Zealand's Spark rings up interim profit rise
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday