The government is working on a
compromise on the windfall tax that it is imposing on surplus
profits made this year by the country's lenders following the
ECB's interest-rate hikes. following criticism inside and
outside the country, Deputy Premier and Foreign Minister Antonio
Tajani said Wednesday.
Premier Giorgia Meloni's fanfare announcement in early August of
the new 40% windfall tax on banks' surplus profits caused
immediate stock market turmoil.
The losses were partially reversed after the government said the
windfall tax would be capped at 0.1% of institutes' assets, but
skepticism remained, with Moody's saying the measure is "credit
negative" and the Financial Times describing the move as
"disastrous" and the government's "biggest blunder so far".
Economy Minister Giancarlo Giorgetti was also reported to be
dubious about the move, although he eventually emerged form
initial silence on it to support the measure.
Tajani. leader of late ex premier and media mogul Silvio
Berlusconi's centre-right Forza Italia (FI) party, said that if
the current text of the bill changes then FI will pull its
amendments to the measure, softening its impact.
"The text must be corrected so as not to penalise savers and
small banks," he said.
"We must give a signal to international markets."
Tajani was speaking to reporters on the sidelines of the UN
General Assembly in New York.
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