Baretta warns medicine could be worse than malady on IMU

Italian economy undersecretary says funds cover must be studied

Baretta warns medicine could be worse than malady on IMU

Rome, August 27 - Italian economy undersecretary warned radio listeners on Tuesday that as policy-makers seek to repeal the controversial IMU property tax, care must be taken not to cause greater damage with excessive new taxes to cover the revenue shortfall. The work currently underway ''is not simple'', Pier Paolo Baretta of the centre-left Democratic Party (PD) told Radio1 listeners. Baretta explained that the government must not only worry about covering the IMU, but also prevent raising the value added tax (VAT) as well pay unemployment benefits and find funds for pensions to retirees who lost their coverage under 2012 reforms. ''Autumn's appointments are demanding and it's necessary to try to respond to everything,'' Baretta said. ''For this reason, I say 'watch out that in order to do everything we don't do greater damage' - in other words, the increase of new taxes for citizens. Demand (for money) exceeds supply,'' Baretta continued. ''Once the service tax is established as the solution, '' Baretta added, ''Everyone must take an attitude of mediation toward financial balance''.

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