EU parliament head calls Italy's 2019 budget plan a risk for savers

Reuters  |  BRUSSELS 

(Reuters) - said on Friday that fiscal targets set by Italy's eurosceptic government were "against the people" and could hit savers without creating jobs.

On Thursday, Italy's populist-led government targeted a budget deficit at 2.4 percent of economic output for the next three years, defying fiscal rules and surprising markets which had expected lower targets.

"I am very concerned for what is happening in Italy," said Tajani, who is a centre-right in and close ally to former

The budgetary plans "will not raise employment but will cause trouble to the savings of the Italians," Tajani said.

has the second largest public debt in relation to output in the EU after bailed-out and had committed for next year to a deficit three times smaller.

"This budget is not for the people, it is against the people," Tajani said in a recorded statement, adding that the planned measures "will create many problems in the north (of Italy) without solving problems in the south," which is the least developed part of the country.

(Reporting by Francesco Guarascio; Editing by and Peter Graff)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 28 2018. 15:49 IST