The question of the taxation on banks is shaking up the political world not only in Italy, but also in France. The Meloni government is in fact considering a possible “solidarity” withdrawal for credit institutions or, alternatively, for other entities such as insurance companies and energy companies, which in recent years have obtained very high profits, thanks to the high interest rate policy practiced by the ECB and due to the Covid crises and the war in Ukraine.
A measure that sees the majority parties are far from in agreementon the issue of taxation on banks’ extra profits, in search of resources to finance the 2025 budget law.
Brothers of Italy thinks of a “solidarity contribution” one-off, but “without punitive intent towards anyone, calling everyone to an authentic spirit of solidarity in support of the Country System and only in the case in which it is deemed necessary”, concludes the FdI group leader in the Chamber, Thomas Foti.
“We will evaluate calmly if the banking system can also provide a contribution to further grow the Italian economy”, he relaunches Mark Osnatopresident of the Finance Committee of the Chamber and economic head of Fratelli d’Italia.
Forza Italia’s opposing position
And even if Foti warns: “it is a waste of time if someone in the opposition hopes that some rift will open up in the centre-right in view of the drafting of the budget law”, the controversial tax on banks’ extra profits remains the bone of contention among the parties of the centre-right majority.
“We are against any tax on extra profits. It would damage local banks and create uncertainty on the markets to the detriment of Italy”, says the leader of Forza Italia, Antonio Tajaniwho however adds, “we can open a discussion table with the banks to find the best solution to help the public finances of our country, I believe that they are available for a discussion, but an imposition from above would be a serious mistake”.
Even in France there is a hunt for resources
Searching for new resources is the plague that also afflicts the centre-right government of Barnier in office only since September 5. The French prime minister, in fact, has clearly admitted that his government could increase taxes on large companies and the richest, to stem the growing problem of debt.
“Our country is in very serious conditions, with 3 trillion euros of debt and 50 billion in interest to pay every year,” said Barnier.
Banks down at Piazza Affari
The possibility of a tax also weighed on the banking sector listed on Piazza Affari. The worst performers of the day, in fact, were the big credit companies waiting to see if Italian institutions will be called upon to make a “solidarity contribution” in view of the 2025 budget. The benchmark index slipped on the Milan stock exchange by more than 2 percentage points.
