Italian Prime Minister Mario Monti and one of his challengers in next month’s elections, Silvio Berlusconi, sparred over the government’s unpopular property tax and economic policy in a weekend media blitz.
Monti signaled that the property tax known as IMU could be restructured, while Berlusconi renewed a pledge to eliminate the levy on the purchase of a first home, a move that would mean a revenue shortfall of more than 3 billion euros ($3.9 billion).
Source: Bloomberg. Read full article. (link)