Italy’s Salvini says government economic plan to be implemented over full term

REUTERS/Massimo Pinca

The government’s economic programme will be implemented over a full, 5-year term, Deputy Prime Minister Matteo Salvini said on Tuesday, indicating that the coalition would introduce its planned spending hikes and tax cuts gradually.

“We are serious people, the government was created to last a long time,” Salvini said in a statement after key figures in his right-wing League party met to discuss the forthcoming budget.

Italy’s populist government took office in June after promising it would go on a spending spree to lift economic growth and create jobs. Repeated threats by ministers to challenge EU budget rules have sent Italian sovereign debt yields significantly higher over the past three months.