Italian holiday island to scrap tax on mega rich

The new governor of the sun-swept Italian island of Sardinia is repealing a tax on the mega rich that will benefit, among others, jet setters like billionaire Prime Minister Silvio Berlusconi.

Governor Ugo Cappellacci, the son of Berlusconi's tax adviser, proposed a budget that repeals the tax on mooring luxury yachts and landing private aircraft on the island where the prime minister owns a holiday mansion.