ROME: Italy is considering fiscal measures to spur investments in the auto and tourism industries, two of the sectors that have been hardest hit by the coronavirus pandemic, Prime Minister Giuseppe Conte said on Saturday.

Speaking at a conference organised by the UIL trade union, Conte said the government needed to “redefine” tax incentives in favour of green, digital investments of the future, adding “we must support the worst affected industries such as automotive and tourism”.

The government would start working on a comprehensive tax reform from next week, he said, but did not elaborate.

The automotive industry accounts for 6.2pc of Italy’s gross domestic product, according to data provided by Fiat Chrysler Automobiles NV (FCA).

On Friday the Italian Parliament gave the green light to a package of incentives to encourage sales of state-of-the-art combustion engine cars as well as electric and hybrid vehicles, two lawmakers told Reuters.

Published in Dawn, July 5th, 2020