Rome, May 31 - Beppe Grillo's 5-Star Movement (M5S) is ready to stage "sensational" nationwide protests over details in the bill launched by the Italian cabinet Friday abolishing funding for political parties, said the group's MPs. M5S called the bill that phases out funds for parties a "moral victory" but also a dubbed it a "scam law" for the way individual taxpayer's money will be split among parties automatically unless the person explicitly declares on their tax return that it should not go to a political party. As the bill stands, the money would be divided proportionally among all parties. "The bill is a mockery for citizens who will continue to support the survival of parties," M5S said. Early on Friday the government said that the elimination will be "gradual", over a period of three years. The first year, funds will be reduced to 60%, the second year 50% and 40% the third year before it is subsequently abolished altogether. Premier Enrico Letta, who last month became premier of an unprecedented left-right coalition after two months of post-election gridlock, vowed to "revolutionize" party funding after only a few days in office.