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Jobs Act, what will it mean for companies?

The overall goal of the Jobs Act is to create the maximum incentive possible for anyone who invests in Italy to maximize long-term employment.

Jobs Act, what will it mean for companies?

Presentation excerpts by Filippo Taddei (Spokesman for the Economy and Employment, Italian Democratic Party) during the Ambrosetti Club Conference Call – January 19, 2015

“[…] The Jobs Act cannot be analyzed separately from the other two measures that have been the cornerstones of this stimulus aimed at promoting long-term employment: the Poletti Decree and the Stability Pact. The latter concentrates the focus of tax cuts on reducing labor costs. As is well-known, it does this through two types of actions: separating the cost of labor from the calculation of IRAP business taxes and providing tax breaks for new, permanent hirings. These breaks are particularly significant. On an average annual salary of around 20,000 euros, it amounts to a reduction in labor costs of more than 25%.

[…] The overall goal of the Jobs Act is to create the maximum incentive possible for anyone who invests in Italy to maximize long-term employment. Why? Because we know that this, on average and all things considered, is what provides most competencies. Advanced economies compete on the basis of human capital, and without competencies, there is no reason to invest in Italy and, if there is no investment, we can’t even begin to talk about new growth.


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