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

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.