Don't miss

Replay


LATEST SHOWS

IN THE PAPERS

The ICC decides fate of Mladic, the 'Butcher of the Balkans'

Read more

EYE ON AFRICA

Celebrations erupt in the streets of Harare as Mugabe resigns

Read more

MEDIAWATCH

Zimbabwe's end of an era

Read more

FOCUS

Video: An uncertain fate for US's transgender soldiers

Read more

THE DEBATE

Enslaved in Libya: What to do about exploited African migrants?

Read more

ENCORE!

Seal on his new album 'Standards' and why he doesn't like texting

Read more

IN THE PAPERS

'The End of German Stability'

Read more

IN THE PAPERS

'Bad news for Merkel is bad news for Europe'

Read more

EYE ON AFRICA

Zimbabwean MPs set to start impeachment proceedings against Mugabe

Read more

Europe

Lower house approves €25 billion austerity package

Text by News Wires

Latest update : 2010-07-29

Italy's lower house of parliament approved a €25 billion austerity package on Thursday aimed at reining in the public deficit. The controversial package includes a three-year salary freeze for public workers and less funding for local governments.

AFP - Italy's lower house of parliament Thursday approved an unpopular austerity package totalling 25 billion euros (32 billion dollars) aimed at bringing the public deficit under control and reassuring markets.
   
Sponsored by the centre-right government of Prime Minister Silvio Berlusconi, the law passed by 321 to 270 votes, with four abstentions.
   
The law was approved by the Senate two weeks ago and was the object of a confidence vote on Wednesday.
   
The plan calls for a three-year salary freeze for public workers, a 10 percent cut in ministry budgets, less funding for local governments and more action to combat tax evasion, among other measures.
   
The plan also raises the retirement age of public and private workers by more than three years by 2050.
   
The austerity package is aimed at reducing Italy's public deficit to 2.7 percent of gross domestic product in 2012 compared with 5.3 percent last year.
   
What Berlusconi has called "essential sacrifices to save Italy's future" have sparked protests and strikes by a cross-section of Italian society including judges, diplomats, civil servants, public sector doctors and museum curators.
   
Italy's largest union, the far-left CGIL, staged a general strike on June 25 to protest the plan, with hundreds of thousands of people taking to the streets.

 

Date created : 2010-07-29

  • ITALY

    Workers strike in protest at austerity package

    Read more

  • ITALY

    Italian government backs €24 billion austerity package

    Read more

COMMENT(S)