Brussels

Industry chief forecasts 'true recovery' in 2015

Squinzi calls for decrease in tax burden, longer hours

Industry chief forecasts 'true recovery' in 2015

(ANSA) - Brussels, October 2 - Italy will have to wait until 2015 for true economic recovery, the president of the Italian industrialists' association Confindustria said on Tuesday. "We are not going to see a real upturn next year, except for improvements towards the end," said Giorgio Squinzi on the fringes of a conference in Brussels. "I'd go with a real recovery in 2015". For this to happen the industry boss said Italy needs to work hard particularly in terms of introducing long-awaited reforms. "The mother of all reforms is the simplification of the country's laws and bureaucracy, namely everything," Squinzi said, adding that the fight against tax evasion is also a just aim. The Confindustria president advocated introducing longer work hours as a means of achieving his "dream" of improving competitiveness by 10%. He also reiterated his call for a decrease in the tax burden on companies in exchange for fewer incentives as a way of reducing labour costs. "It is not a problem for companies to renounce incentives given their modest amount," he said.

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