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Renzi promises billions in income, labour tax cuts

Youngest-ever premier needs to give weak economy a boost

25 February, 18:17
Renzi promises billions in income, labour tax cuts (ANSA) - Rome, February 25 - Premier Matteo Renzi on Tuesday promised to make "double-digit" income and labour tax cuts worth billions of euros during remarks before a House confidence vote in his new government. Renzi, 39, said the cuts would be made in actual euros and not in percentages.

He has said that an "immediate" cut to income and labour taxes would give Italy's struggling economy and businesses a boost. Italy's youngest premier, who also declared war on business-hindering bureaucracy, faces an economy trying to pull itself out of the worst recession since the Second World War.

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