GM Warburg Commercial comments as Italy votes to cut the number of MPs in parliament by a third.

SEOUL, KOREA, September 24, 2020 /24-7PressRelease/ — Italians overwhelmingly voted to reduce the number of MPs by a third. The referendum which was held on September 21st and 22nd after being delayed due to the coronavirus pandemic. Nearly 70% of the more than 50% of all Italians voted in favor of the reform that would see Lower House representative numbers cut from 630 to 400 and Senate members from 315 to 200.

Five Star Movement Triumph

The reform was strongly supported by the anti-establishment Five Star Movement which rules in coalition with the center-left Democratic Party. The Five Star Movement, as part of its election campaign, promised to tackle political elitism and unnecessary government spending.

GM Warburg Commercial analysts reported that the constitutional reform was first voted on in parliament in October last year where it was passed by 553 MPs, with only 2 voting against.

More Efficient Parliament, GM Warburg

Analysts at GM Warburg Commercial say the reform will save the country hundreds of millions of euros each year and could make the Italian parliaments more efficient.

However, critics have argued that the slimmed-down parliament could jeopardize the country’s democracy by negatively influencing popular representation and increase the influence of lobbyists over governing institutions. Some have stated that the saving would have little to no impact on Italy’s bottom line.

Italy previously had one of the highest numbers of lawmakers in the European Union and the third highest number in the world after China and the United Kingdom.

Since 1983, Italy has tried a total of 8 times to reduce the number of MPs. The new reform will come into effect in the 2023 elections.

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