Rome

Alfano cries victory on Twitter over IMU tax cancellation

Deputy premier tweets 'mission accomplished'

Alfano cries victory on Twitter over IMU tax cancellation

Rome, August 28 - Deputy Premier Angelino Alfano cried victory on his Twitter account Wednesday after government ministers finalized a deal to readjust the controversial property tax known as IMU, agreeing to plug the revenue hole left in its wake with "spending cuts and other virtuous choices," not by raising taxes. Alfano defined the decree to eliminate IMU as a "tax-free law". Rolling back the tax means the government now must come up with new sources of revenue to make up for the resulting 2.426-billion-euro shortfall in 2013 alone. "Mission accomplished! First home and farm tax for 2012 cancelled. The term IMU will now disappear from the dictionary," wrote Alfano. Berlusconi and his supporters have threatened to bring down the government of Premier Enrico Letta since its founding in April if it failed to roll back the tax, a central plank in his campaign platform in February elections when his centre-right People of Freedom (PdL) party roared to second and ultimately won a junior partnership in the current left-right coalition.

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