Spending review can't raise 23 bn in months - Cottarelli

(ANSA) - Rome, April 19 - Former spending-review commissioner Carlo Cottarelli said Friday that he did not see how public expenditure cuts could provide the budget coverage needed to stop a big hike in value-added tax kicking in at the start of 2020.
    "There is certainly no way to find the 23 billion euros (needed to avert the VAT increase), starting from now, with five months to go to the (new) budget law," Cottarelli told ANSA after Laura Castelli and Massimo Garavaglia were appointed the new spending review commissioners. "I wish the new commissioners well.
    "There's still a lot to do but it's a bit late to start".