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Renzi promises 10-billion euros in income, labour tax cuts

Reorganization of public finance to help pay for drop in levies

26 February, 15:29
Renzi promises 10-billion euros in income, labour tax cuts (ANSA) - Treviso, February 26 - Italian Premier Matteo Renzi said Wednesday that he intends to cut at least 10 billion euros in labour, business and income taxes.

Renzi gave few details of how he will implement the cuts, but said that the lost income would be made up by reorganizing public finance.

On Tuesday, as the new Italian premier spoke before a confidence vote in the Lower House, Renzi said the "double-digit" cuts would help to give the country's struggling economy and business a boost.

Italy's youngest premier, who also declared war on business-hindering bureaucracy, faces an economy trying to recover from the worst recession since the Second World War. Renzi, 39, spoke after meeting business people in the northern city of Treviso on Wednesday.

Earlier, he visited a school there as part of a pledge to visit a school each week, calling education "the engine of growth" in the economy.