Home > News > World
Monday February 24, 2014 MYT 10:06:08 PM
Monday February 24, 2014 MYT 10:07:02 PM
ROME (Reuters) - 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.
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.
(Reporting by Naomi O'Leary)
'Boat people' likely posing as Rohingya for aid, says Myanmar general
Polish President Komorowski narrowly leads in poll ahead of run-off
Italy passes law to tackle rampant corruption
Islamic State says it has full control of Syria's Palmyra
No problem hanging out with George Clooney
Passion and food go hand in hand
Fake rice concerns
Tasteful eats for all seasons
Brain implant senses ‘intent’ to move robotic arm
Copyright © 1995-2015 Star Publications (M) Bhd (Co No 10894-D)