Cabinet approves 30-bn-euro budget

(ANSA) - Rome, October 16 - Premier Giuseppe Conte's cabinet approved its 2020 budget bill featuring around 30 billion euros in new measures in a marathon six-hour meeting overnight, although the package was given the OK pending an agreement within the executive over some aspects of it. The package averts a hike in value-added tax that was set to kick in next year and sets aside around three billion euros to cutting the labour-tax wedge. Economy Minister Roberto Gualtieri described the budget as "expansive".
    "It avoids the VAT increase and implements various points from the government programme," he said.
    Deputy Economy Minister Antonio Misiani said the cuts to the tax wedge would give workers around 500 euros more income per year net on average. The bill includes several measures designed to combat tax evasion.
    There will be tax breaks for people who make payments via cards or in other digital traceable ways, rather than by cash.
    The limit in payments that can be made by cash will gradually be brought down from 3,000 euros to 1,000 euros by 2022.