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Italy tax cuts for hiring young people should be extended - Padoan

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Italy tax cuts for hiring young people should be extended - Padoan

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ROME (Reuters) – A temporary measure cutting taxes for Italian employers for a period after they hire young people should be extended, Economy Minister Pier Carlo Padoan said on Wednesday. The government is considering including the tax cuts, which were introduced temporarily as part of a 2015 labour market reform, in its 2018 budget, which is due to be presented in October, Padoan said. “Selective tax cuts for young people are an important tool and these measures should be made permanent,” Padoan said at a conference in Rome. He did not say how long the tax cuts would remain valid after a young worker was hired. Italy’s youth unemployment rate is one of the highest in the European Union, at 37 percent in May.

(Reporting by Giuseppe Fonte, writing by Isla Binnie)
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