Italy’s Tria: Tax cuts must be offset by spending cuts otherwise a rise in VAT will kick in next year

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The Financial Times (FT) reports the latest comments from the Italian Finance Minister Tria, with the key headlines found below.

Tax cuts must be offset by spending cuts otherwise a rise in VAT will kick in next year.

Tax cuts must be introduced in a progressive way, compliant with public finance objectives.

Sees savings of 3 bln to 4 bln Euro in 2020 from lower than expected uptake of welfare measures.

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