'Insufficient' budget funds for labour tax cuts

Confindustria says fiscal plan doesn't go far enough

(ANSA) - Rome, December 18 - The Italian government's budget package does not devote enough resources to cutting employment taxes as deeply as required, Giorgio Squinizi, president of powerful industrial employers' confederation Confindustria, said Wednesday. He spoke as the budget package was headed to the floor of the Lower House. "The resources devoted to reducing (labour taxes)...are in our view absolutely insufficient," said Squinzi. Premier Enrico Letta's government has also promised that any future savings from a spending review as well as a crackdown on tax evasion will be used to lower taxes paid by employers and employees.