Brussels, 16/12/2011 (Agence Europe) - By a margin of 495 votes to 88 (essentially the Lega Nord), with four abstentions, Italian Prime Minister Mario Monti won the backing of MPs on Friday 16 December for his austerity plan. The plan, to take Italy to fiscal balance by 2013 and reassure markets, involves €20 billion of savings and tax rises, and also €10 billion worth of measures to boost growth. It is likely to be passed by the Senate with no difficulty next week. Welcoming the support of the parliament for the government, European Economic and Financial Affairs Commissioner Olli Rehn said that the plan, as passed, was “very convincing, although much remains to be done particularly on jobs and growth”. Since it was brought forward by the government on 4 December, the austerity plan has been slightly amended by the lower house finance committee, in an effort to bring greater fairness. For example, faced with the bitter opposition of the Lega Nord to reform of pensions, the threshold above which index linking will be frozen in 2012-13 was raised to €1,400. Also, the tax on main residences, reintroduced after being abolished by the Berlusconi government in 2008, has been reduced to €400 for large families. To make up for this loss of revenue, a 15% tax on pensions above €200,000 has been introduced, while the tax on illegally exported capital, legalised under the Berlusconi government's tax amnesty, will be increased and will be made permanent. The minimum age at which MPs will receive a parliamentary pension will be increased, from 50 to 60 or 65 depending on their function. (FG/transl.rt)