ROME—Italy’s government on Saturday approved a 2017 budget plan that aims to avert tax increases as Prime Minister Matteo Renzi faces increasing pressure ahead of a national referendum over constitutional changes. The €26.5 billion budget proposal includes €6 billion in revenue from a tax amnesty and spending cuts. The budget also seeks to avoid a €15 billion value-added-tax increase that would automatically take effect next year if...

Source: Wall Street Journal October 15, 2016 19:07 UTC