Premier Letta's cabinet approves tax cuts for businesses that hire ROME, June 26 (UPI) -- The cabinet of Italian Premier Enrico Letta took measures Wednesday to combat unemployment, including tax breaks for businesses that hire new workers. Among the measures passed, the cabinet approved an $850 per month tax cut for businesses that hire, ANSA reported. The tax credit applies to new hires and to employers who extend jobs that were expected to end, the report said. The benefits in the new policies favor workers under age 29 who do not have a high school diploma and youths age 15 to 24, a demographic group in which unemployment has reached 25 percent. For the general population, unemployment in Italy is at a record 12 percent, ANSA said.