| Author (Person) | Dinmore, Guy, Sanderson, Rachel |
|---|---|
| Series Title | Financial Times |
| Series Details | 7.9.11 |
| Publication Date | 07/09/2011 |
| Content Type | News |
|
Silvio Berlusconi’s centre-right government caved in to pressure from bond markets and European partners late on the 6 September 2011 by announcing a last-minute U-turn to strengthen Italy’s proposed austerity package . After more than three weeks of flip-flopping, the prime minister’s office announced that the highest value added tax band would be increased to 21% from 20%; that a 3% wealth tax would be imposed on top earners, and that introduction of a later retirement age for women would be brought forward. The Italian Senate voted 165-141 with three abstentions to approve the package on the 7 September 2011, which was put to a confidence vote to make sure Prime Minister Silvio Berlusconi's allies united behind the government after weeks of argument. The package was then due to go to the lower Chamber of Deputies later in the week, where Mr Berlusconi also had a majority. |
|
| Related Links |
|
| Countries / Regions | Italy |
