November 30, 2017 / 6:53 PM / a year ago

Italy government wins confidence vote on 2018 budget

ROME (Reuters) - Italy’s government won a confidence vote on its 2018 budget in the upper house Senate on Thursday, in a step toward approving its financial plans by the end of this year.

The budget aims to lower next year’s fiscal deficit to 1.6 percent of gross domestic product from a targeted 2.1 percent this year, and introduces a “Web tax” from 2019, obliging companies to pay a 6 percent levy on transactions made in Italy over the Internet.

The Senate voted in favor of the budget by 149 votes to 93 and the package will now move on to the lower house Chamber of Deputies.

If the government had lost the vote it would have been obliged to resign, but the chances of this were remote as no parties have a clear interest in hampering the passage of the budget before elections early next year.

Reporting by Francesca Piscioneri and Isla Binnie

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