The Italian government has approved next year's budget with tax cuts shifting the burden to government bureaucracy from taxpayers in a bid to spark the stagnant economy.

Prime Minister Enrico Letta is relying on 3.5 billion euros of spending reductions to meet 2014 deficit targets.

Central government will bear 2.5 billion euros of the cuts, regional administrations 1 billion euros.

...
http://www.euronews.net/