The leader of Italia Viva, Matteo Renzi, he wrote to Corriere della Sera to improve the budget maneuver and lower taxes on labor in a more courageous way, by cutting the tax wedge further. On this maneuvering front – argues Renzi – there are “just pennies“, 2,7 billion: too little, more needs to be done.
But how to find the resources to further reduce taxes on labor without increasing the deficit and its ratio to GDP? Renzi puts forward two proposals:
- Cut spending on goods and services: "I had left Palazzo Chigi with expenditure for goods and services of 135 billion, which grew to 3 billion in 150 years": too much, we need to cut.
- Remodulate the public debt, lengthening its maturities. Today – writes the leader of Italia Viva – the interest on the debt is “low, very low. But in the rest of Europe they are even negative. Which is a great opportunity. The debt must be remodulated, not the VAT rates” .
"The real revolution - concludes Renzi's letter to Corriere - is spending less on goods and services, it is debt restructuring, it is really lowering taxes".
