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Fiat 'not affected' by Jobs act, says Marchionne

CEO supports new Renzi government in push for labour reform

04 March, 12:21
Fiat 'not affected' by Jobs act, says Marchionne (ANSA) - Geneva, March 4 - The chief executive officer of Fiat Chrysler Automobiles (FCA), Sergio Marchionne, on Tuesday said the world's seventh-biggest automaker would not benefit much from Italian government plans for labour reform but stressed he supported new Premier Matteo Renzi in his efforts.

"It is necessary to reduce the tax burden to encourage the country," said Marchionne of one of the provisions contained in Renzi's much-trumpeted Jobs Act, a package of measures to promote business investment and improve labour market efficiency while cutting relevant taxes.

"As for the rest, we can enact our decisions thanks to our agreements with the labour unions," he added.

However the Fiat chief denied wanting to "play down" what the government was doing.

"I think it is necessary to support it," said Marchionne.

Renzi announced his proposed Jobs Act before replacing Democratic Party (PD)colleague Enrico Letta as premier last month and he has made it an important part of his programme for sweeping reform.

However the details of the package still have to be thrashed out.