Renzi cuts Italy growth forecast to 0.8% but repeats tax cut pledge

by Guy Dinmore

Italy's new prime minister, Matteo Renzi, has renewed his pledge to cut taxes for low-income workers. As Italy has been in it's deepest recession since World War II, Renzi has been attempting to fuel the economy, lower the debt, and help low-income workers all at the same time. He plans to cut taxes for those income-workers by lowering public spending, as well as raising taxes on banks and through other revenues. Renzi has, pridefully, pointed out that Italy did not hit it's debt ceiling this last year. Furthermore, the coming year, Renzi plans to give tax cuts which will effectively give low-income workers an extra 80 euros to spend. He optimistically believes that Italy will rise from the recession as a greater nation.

Katie Madel

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