Arab Today, arab today italy\s 2014 budget bill opens divisions within majority parties
Last Updated : GMT 16:41:41
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.

arabstoday
arabstoday

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

 



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 Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today US-made bomb used in fatal strike

GMT 10:16 2017 Saturday ,23 September

US-made bomb used in fatal strike
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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