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ROME, March 28: Italy's centre-left government has proposed scrapping tax increases on capital gains from bonds and stocks, a government official said on Wednesday. The 2007 budget included a provision to hike tax on income from stocks and bonds to 20 per cent from 12.5 per cent in an effort to raise badly needed revenues and meet Italy's deficit-cutting obligations with the European Union. Alfiero Grandi, undersecretary for the economy, said the measure, included in a draft law expected to be approved by July 1, had been withdrawn.—Reuters
