ROME: Italy's government on Friday passed a decree cutting income tax for 10 million Italians earning between 8,000 and 26,000 euros a year and will be funded mainly by permanent spending cuts, Prime Minister Matteo Renzi said.
He told reporters after a cabinet meeting that tax cuts for very low earners who already do not make enough to pay taxes and for the self-employed will be made in "coming weeks and months".
He said that a "review" of the F-35 joint strike fighter programme would bring in 150 million euros to help fund the cuts, without giving details. Italy now has committed to ordering 90 of the planes for about 12 billion euros.
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