Italy Pushes ahead on Tax Cuts |
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by Tom McGregor | Wed, Oct 10, 2012, 07:03 PM |
![]() According to Fox Business, “the unexpected measure was presented in the early hours of Wednesday, along with a rise in value added tax and a raft of spending cuts designed to keep Italy on course to meet budget goals with the European Union.” Monti introduced the multi-billion-euro tax break that would come into effect at most four months ahead of elections. He argued that painful austerity measures implemented by his un-elected administration have begun to show results. He told reporters after a marathon cabinet meeting, “today we can see that budget discipline pays and makes sense.” As reported by Fox Business, “economists gave tax cuts a guarded welcome, but said it would do little to address the underlying problem of persistently low growth that has dogged the debt-ridden Italian economy for more than a decade.” To read the entire article from Fox Business, link here: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
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