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IMU house tax must be more progressive to be fair, EU says

Old ICI property levy increased poverty slightly

IMU house tax must be more progressive to be fair, EU says

Brussels, January 8 - The property tax known as IMU introduced by the technocrat government of outgoing premier Mario Monti to help mitigate Italy's debt crisis needs to be made more progressive if it is to enact a fairer redistribution of wealth, according to the Employment and Social Developments in Europe 2012 report. The old ICI property levy, abolished on first homes by the former government of Silvio Berlusconi, did not affect inequality and slightly increased poverty, the report added. Berlusconi has vowed to scrap the highly unpopular IMU if he wins next month's general election. Other parties, including the poll-leading centre-left Democratic Party and a centrist bloc led by Monti, have promised to ease it.

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