untitled design (1)

Learn Italian online

Funding Italy’s Tax Cuts

Tomorrow, Wednesday, Italy’s prime minister Matteo Renzi may announce tax cuts to the tune of €10 billion. Today, Italy’s RAI news channel hinted at how funding for the tax cuts may be found.

Apparently, Italy’s government is examining whether it could cut the nation’s military spend by enough to make up for the shortfall the tax cuts would leave. Part of Italy’s military spending budget includes provisions for the purchase of 131 F35 fighter aircraft which will cost Italy somewhere in the region of €16 billion.

think in italian logo dark bg 1

Stop reading, start speaking

Stop translating in your head and start speaking Italian for real with the only audio course that prompt you to speak.

While 5 Star Movement politicians have called on Italy to cancel its order for the F35 aircraft, this may incur penalties. However, there are a number of reports that the F35 is not necessarily fit for purpose and Italy could, in theory, delay its purchase of these fighters until what could be teething troubles have been ironed out. One has no idea at all whether multi-million dollar fighter aircraft come with any form of guarantee, but it sounds as if the F35 should come with one from what I’ve read.

With clever negotiating, Italy could either cancel or delay its F35 order. In theory, tax cuts could kick-start Italy’s sludgy economy and if this happens, then overall tax income may actually increase enough for the nation to be able to afford F35s at a later date.

Now all that remains is to hear details of the tax cuts, though there are already signs that the announcements on the subject due tomorrow may be postponed. Working out how to fund Italy’s tax cuts is proving to be a problem, it seems.

Most Popular

Yes, Prime Minister

For the uninitiated, which means most of my Italian readers, Yes, Minister was a comedy (as in funny), which appeared on BBC tv in the UK for good few years.

In Defense of the NSA

I have to admit feeling a little sorry for the National Security Agency and I guess the NSA

Categories

Related Posts

Tram trouble

I was nearly flattened by one of the many hurried drivers here as I got off a tram . This happened last night while I

Such is Life!

Oh well. I tried to solve one or two site related problems, but seem to have unearthed one or two others in the process – hence the, er, new look.

Italy: Still in Limbo

Italy is still without a new government. Time is passing and the nation’s economy is worsening, but the weather is nice. While Italy’s political classes