Italy's new government makes economic promises

Italy's new government makes economic promises

The leader of the country's anti-establishment Five Star Movement says he has reached an accord with the right-wing League.

These include slashing taxes for companies and individuals, boosting welfare provision, cancelling a scheduled increase in sales tax and dismantling a 2011 pension reform which sharply raised the retirement age.

A deeply eurosceptic far-right party and an anti-establishment group are set to unveil a coalition government agreement and name a new Italian prime minister on Monday, ending over two months of political deadlock.

The pre-election adversaries have spent the last few days trying to fuse their very different programs into a "contract" of mutually acceptable policy commitments.

Italy's next prime minister could be an independent figure who is not a member of either the 5-Star movement or the League and a government could be sworn in next week if all goes well, a top 5-Star member said in a newspaper interview published on Friday.

Italy's new government makes economic promises
Italy's new government makes economic promises

5-Star's flagship policy of a universal income for the poor will cost an estimated €17bn per year. Mattarella is due to meet Di Maio at 4:30 pm local time and a delegation of the League at 6:00 pm.

This might also benefit former prime minister Berlusconi.

Five Star won more support than any other single party with 33 percent of the vote. They have also pledged to attempt to renegotiate European treaties.

If Mattarella is satisfied with their choice, Italy could have a government in place by the end of the week.


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