Italy

Monti government goes for growth


Published

Prime Minister Mario Monti’s Cabinet of technocrats approved an €80 billion package of growth measures yesterday to help boost the economy and reduce government spending.

The measures, contained in a 70 page document with 61 articles includes the sale of €10 billion in state assets including government property, old barracks and other unused buildings long held by the government.

Other measures aimed at controlling government spending included reducing staff in the Prime Minister’s office and the Treasury Ministry, including selling off some agencies to the private sector.

Ther are also tax incentives for those wishing to carry out home improvements, preferential bonds for infrastructure projects, a simplified bankruptcy filing system to allow companies to restructure debt, shortening the length of civil proceedings and tax breaks for SMEs.

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