MILAN, May 23 (Reuters) - Italy will broadly stick to budget commitments set out in its multi-year ‘DEF’ financial planning document, a senior government official said.
Economy Undersecretary Massimo Garavaglia, a leading member of the ruling League party, told Radio 24 that the government would find money to introduce a “flat” corporate and income tax by reviewing a system of tax breaks worth 48 billion euros ($54 billion).
Garavaglia said the government would also be able to find funds to avoid a planned VAT hike worth 23 billion euros.
“I think we’ll get to the end of the year with 0.4-0.5 percent (economic growth), that’s the starting point and then the goal is to stick to the trends outlined in the DEF document,” he said.($1 = 0.8972 euros) (Reporting by Valentina Za)