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Pensions will be cut by 1% says spending-review chief

Political costs to be slashed by 10%

18 March, 16:10
Pensions will be cut by 1% says spending-review chief (ANSA) - Rome, March 18 - Italian pensions will be cut by 1% under the government's sweeping spending review, the head of a panel tasked with picking the savings said Tuesday.

Previously, Premier Matteo Renzi had said pensions would not be touched by the spending review.

But Carlo Cottarelli told parliament "it would have been difficult to ignore a sector that's worth 270 billion euros".

Pension cuts "will be in the order of 1%, much less than potential savings in other sectors," he said.

The cost of Italy's bloated political system will be cut by 10%, Cottarelli said.

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