The Italian Government agrees the new budgets to send to the EC

The Italian Government agrees the new budgets to send to the EC

The Italian government closed last night after a meeting the several pending points in the revision of the Budgets to send to the European Commission (EC) and rectify the deficit to 2.04% of the Gross Domestic Product (GDP), informed government sources.

The President of the Government, Giuseppe Conte, participated in the meeting, which concluded at dawn; the Minister of Economy, Giovanni Tria, and the two vice-presidents and leaders of the parties that make up the Government, Luigi di Maio (5 Stars Movement) and Matteo Salvini (League).

On leaving the government headquarters, Salvini announced "the agreement on all points" and that "the tax reductions were also found to reach the limits that Brussels will probably approve."

After the Brussels rejection of the Italian budgets, in which the deficit was expected to reach 2.4% of GDP in order to implement some social measures, and the announcement that an infringement procedure would be opened, the Italian Government yielded and He started reviewing his accounts.

Last Wednesday, Conte met with the president of the European Commission, Jean-Claude Juncker, and presented a new proposal that reduced the deficit to 2.04%.

Although the European Commissioner for Economic Affairs, Pierre Moscovici, considered that "there was still technical work to be done" and a greater effort of "understanding" and "clarification" would still be necessary.

According to some media, to reduce the deficit it was necessary to find financial hedges worth 3,000 million euros.

From the Government it was made known that the reduction of the expenditure has been done without betraying the key electoral promises, such as the so-called "100%", a reform that will touch the age and years of contribution to reach retirement, and the "Income of citizenship ", a kind of unemployment subsidy.

Among the points approved during the night, tax incentives of up to 6,000 euros stand out for those who buy electric or hybrid vehicles, a tax for high-end polluting cars and a cut of up to 40% of the so-called "gold pensions".


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