Italy to Introduce Windfall Bank Taxes
Italy is planning to raise windfall taxes on banks as part of its budget plans for 2026-28 to plug its budget gap.
“Nobody has uncorked champagne,”
admits the economy minister, indicating that the move is not a cause for celebration. This is not the first time Italy has resorted to asking banks to make a contribution to the economy due to their extra profits from high interest rates.
- Banks are well capitalised and generally profitable.
- The move is part of Italy's budget plans for 2026-28.
A trade group has also commented on the plans, stating that they are too vague to support.
Author's summary: Italy introduces windfall taxes on banks.
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