Europe Italy will re-submit 2016 budget ‘as is’ if EU rejects it –...

Italy will re-submit 2016 budget ‘as is’ if EU rejects it – PM Renzi

Italy's Prime Minister Matteo Renzi gestures as he talks during a news conference after a cabinet meeting at Chigi Palace in Rome, Italy, October 15, 2015.
Italy’s Prime Minister Matteo Renzi gestures as he talks during a news conference after a cabinet meeting at Chigi Palace in Rome, Italy, October 15, 2015.

Italian Prime Minister Matteo Renzi said on Friday that he did not expect the European Commission to reject Italy’s 2016 budget but if it does, Rome will re-submit it “as is”.

“If Brussels gives the budget a failing grade you re-submit it as is and the score is 1-1 and nothing changes,” Renzi told a morning talk radio show.

But he added that he did not expect this to happen because “we are among the very few countries that are within the rules.”

The tax-cutting 2016 budget, presented on Thursday, will abolish a tax on primary residences, scrap levies on agricultural and industrial equipment, offer tax breaks to companies that invest in machinery and equipment and reduce the television licence fee.