Italy's education minister steps down over lack of funds for schools, universities

As per reports, Italy's Education minister Lorenzo Fioramonti, stepped down from his post after he failed to convince the Italian government to shell out billions in what was said were required to considerably improve school's and universities in the country. Fioramonti's decision to step down, high lights his party, 5-star movement, which is attempting to reorganise at a time when there has been widespread internal dissatisfaction with its Foreign Affairs minister Luigi Di Maio.

Education minister resigns over lack of funds

While talking to a local media outlet, Fioramonti said that he had sent in his resignation letter to the Italian Prime Minister Giuseppe Conte on December 23. The former education minister said that after the Italian government of the 5-star movement and the centre-left Democratic Party was established, he would step down unless the 2020 education budget had a 3 billion euro increase in its allocation of funds. According to reports, only a few people believed him as the 2020 budget went through the parliament, showcasing that the Italian government was not in favour of increasing taxes or enforce spending cuts in order to increase the funds in the education budget.

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According to reports, Fioramonti's suggestions to impose new taxes on flight tickets, plastic and sugary foods in order to raise the education budget but was berated by fierce critics who stated that the Italian was already heavily-taxed. Fioramonti recently made the headlines when he stated that Italy would become the first country in the world to make subjects on climate change and sustainable development compulsory for school students. Italy spends 3.6 per cent of gross domestic product (GDP) on university and primary education as compared to an average of 5 per cent amongst 32 countries based on a report by Organisation of Economic Cooperation and Development.

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Italy implements new digital tax

Italy has recently decided to implement a new tax on technology giants that will put a three per cent digital tax on companies like Google and Amazon. According to global figures, technology companies make over $831 million in global revenue and approximately $6 million from transactions and operation in Italy. The Italian Parliament passed the law this week and is scheduled to come into force from January 1 and is very similar to the one that France implemented earlier this year. The new tax law passed by Italy will require tech giants like Facebook, Google and Amazon to pay a 3 per cent levy on all internet transactions. This new tax is expected to generate 600 million euros in tax revenue for Italy.

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(With inputs from agencies)