Rome

Senator says government should pay business by end of 2014

Municipalities given extra time to prepare for tax collection

Senator says government should pay business by end of 2014

Rome, May 30 - The Italian government should be able to pay all its outstanding debt to businesses by the end of next year, a member of the Senate budget committee said Thursday. The Italian government owes about 40 billion euros in debt to businesses, and repaying that has been seen as important to providing the recession-plagued economy with a shot-in-the-arm of liquidity. The plan for debt pay-down by the end of 2014 was announced by Antonio D'Ali, leader of the People of Freedom (PdL) party on the Senate committee. The committee also announced that Italian municipalities have been given another six months of breathing room before they must begin to collect their own taxes. Municipal governments must become autonomous in tax collection as of Jan.1, 2014 and not the end of next month, as had been expected.

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