Italy

More reforms from the Cabinet


Published

Yesterday’s Cabinet passed more reforms to help individuals and businesses.

The package which is designed to simplify regulations will remove red tape from a number of household requirements as well as cut business red tape.

The major improvement will be a move to much more use of the internet for completing routine tasks such as notifying officials of change of address, renewing ID cards and birth certificates, as well as a number of business requirements. Processing of data and records will also be centralised.

The Cabinet has also introduced reforms that will make it easier for immigrants to obtain work permits.

Meanwhile the Cabinet had further good and bad news. The bad news was the announcement by the Fitch ratings agency that they were downgrading Italy from A+ to A- status. The good news was that this week the government managed to sell €5 billion worth of two year bonds at 3.76%, a dramatic drop from last month. Yesterday they also managed to sell €11 billion in six month bonds at yields of 1.97% a fall from December’s figure of 3.25%.

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