Italy's Salvini wants tax breaks for Italians investing in debt

FILE PHOTO: Italian Interior Minister Matteo Salvini speaks during a meeting in Milan, Italy, August 28, 2018. REUTERS/Massimo Pinca/File Photo

ROME (Reuters) - Italy’s ruling coalition wants to help Italians invest in sovereign debt through tax breaks, Deputy Prime Minister Matteo Salvini said on Wednesday.

Salvini said that a scheme offering tax breaks to citizens who buy government debt “is in the ruling coalition contract”.

Asked how he intended to achieve the objective, Salvini, who is also leader of the ruling League party, answered: “by making people who invest in their country pay less taxes”.

“We have been supporting the idea of helping investors who invest in sovereign debt for years,” he added in a television interview with state broadcaster RAI.

Armando Siri, Undersecretary for the Infrastructure Ministry and League lawmaker, told Reuters earlier this month, that a proposal on the table envisaged a scheme offering tax breaks for up to 15 billion euros ($17 billion) in investments in Treasury bonds.

If approved in cabinet, the plan would be included in a decree to be presented by Oct. 20 alongside the 2019 budget.

Reporting by Giselda Vagnoni, editing by Steve Scherer and Giulia Segreti