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Italy's new PM wins confidence vote

Italy's newest and youngest prime minister won Tuesday's final parliamentary confidence vote by a comfortable margin. The outcome was no surprise but it fully empowers Matteo Renzi's coalition following his promises to slash red tape and revolutionise the economy. Speaking ahead of the vote Renzi pledged radical steps but gave little detail. In a later tv address he did give more away. He's promising moves to pay off public administration arrears within 15 days. He also said a 10 billion euro cut in the difference between what an employer pays and an employee takes home could come through reductions in social contribution. Before becoming prime minister Renzi called for leeway to allow Italy's budget deficit to go above the European Union ceiling of three per cent of output. Since he took up the post he's shed no light on whether he still plans to pursue that idea.

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