Italy’s deputy prime minister Matteo Salvini has proposed a three-year levy on the country’s 10 largest banks as part of the government’s 2027 budget, arguing that lenders should contribute more to public finances.
Salvini called for a 5 per cent annual tax on large lenders if their collective annual earnings reach €30bn for the year. To justify the measure, he pointed to combined first-half profits of almost €12bn at Intesa Sanpaolo and UniCredit, Italy’s two largest banks.
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