Italian machine tool orders will increase by 6 billion euros in 2009

According to foreign media reports, as the Italian government introduced measures such as tax cuts to help the economy out of recession, Italian machine tool orders in 2009 will increase by about 6 billion euros, an increase of 30% over expectations. The Italian government recently approved a corporate tax cut package aimed at helping domestic companies cope with the worst economic downturn in decades. The package includes tax cuts for businesses buying any new machinery. At the same time, the new stimulus package also includes tax incentives for companies that refuse to implement layoffs or hire temporarily unemployed people, thereby limiting the rise in unemployment. Alfredo Mariotti, president of the Federation of Italian Machinery Manufacturers Associations, pointed out that it is expected that at least 20% of member companies will stop using temporary layoff plans.