The 2016 budget bill's new cash-transaction limit, raised from 1,000 to 3,000 euros, will be good for consumer spending, the head of retail association Confcommercio said Monday as controversy over the measure continued.
"It is certainly a good choice, a choice we expected, a choice in line with Europe and at a time of difficult recovery, it simplifies the life of companies," said Carlo Sangalli.
"It certainly goes in favour of relaunching consumption," he said.
Critics of Premier Matteo Renzi have slammed the move, saying it makes it easier to dodge taxes and pay bribes. Italy's anti-corruption czar Raffaele Cantone said Monday "the amount of money you can pay in cash does not affect tax evasion per se - but you need steady rules that aren't continuously changed".
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