Padoan says 800,000 new jobs possible

(ANSA) - Rome, October 20 - As many as 800,000 new jobs could be created in Italy thanks to new measures contained in the government's latest budget, says Economy Minister Pier Carlo Padoan.
    "It could be so," the minister said in an interview with the RAI television program 'In mezz'ora' broadcast on Sunday. Last week's 2015 budget, which has been submitted for European Union approval, contained some 36 billion euros in new tax and spending measures.
    Companies must now make the most of tax savings, such as cuts of the IRAP regional levy and a three-year break on social contributions for new hires, to invest and create new jobs, said Padoan.
    "Now, you invest and create jobs," said the minister.
    He also said a cap of 1,200 euros has been set for the tax break for new employees, a detail not previously known.
    President Giorgio Napolitano was set to sign the budget bill later on Monday and and the following day, it should then go to a Lower House committee to start its path through parliament.
    Another last-minute measure was announced Sunday by Premier Matteo Renzi, who said the budget law will extend the 80-euro-a-month tax bonus that the government introduced this year for low earners to families who have a newborn child.
    The leader of the centre-left Democratic Party added that the government has set aside 500 million euros in the budget to finance the measure.