Di Maio Renews Push for Basic Income for Italians

  • Deputy PM says dropping pledge would damage the government
  • Five Star denied a report they will seek Tria’s resignation
BNP Paribas’s Steven Saywell discusses the outlook for the yield spread between Italian and German bondsSource: Bloomberg
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Luigi Di Maio, one of Italy’s two deputy prime ministers, renewed his push for a so-called citizen’s income, saying abandoning the key pledge would threaten the government.

The measure, backed by Di Maio’s anti-establishment Five Star Movement, is one of a number of costly election promises that have unnerved investors. The coalition government, which also includes Matteo Salvini’s rightist League, has also proposed changes to pension legislation and tax reform in the 2019 budget.