Italy's Undersecretary for Prime Minister Giancarlo Giorgetti arrives for gala dinner at the Quirinal palace in Rome, Italy, June 1, 2018. REUTERS/Remo Casilli

VARENNA, Italy (Reuters) - Italy’s cabinet undersecretary said on Saturday it was difficult for the government to meet all its electoral pledges at the moment and more time was needed to do so.

“What can be done is to do it in the five years the government will last, that way things are done seriously,” Giancarlo Giorgetti said on the sidelines of a conference.

Italy’s populist ruling coalition is preparing its first budget, expected to include tax cuts, higher welfare spending and a reduction in the retirement age.

“If the policies proposed are not serious and credible, this is a problem,” Giorgetti said.