Extra levies on financial sector won't kill anyone says Giorgetti

(ANSA) - ROME, 16 OTT - Economy Minister Giancarlo Giorgetti said Friday that the additional taxes the government intends to impose on banks and insurers in the 2027 budget law will not be too severe. "I confirm that a contribution will be requested from the financial system because we believe it can afford it," Giorgetti said. "We also believe the terms will be sustainable," he added, stressing that "keeping the (bond) spread under control is in everyone's interest" and that banks hold billions of euros in Italian BTP bonds on their balance sheets. When asked about possible legal challenges by the banks, the minister commented: "every Italian could take the government to court for raising taxes. We'll try to figure out the right course of action; I don't think anyone will die over it." The government's Draft Budgetary Plan (DBP) says the financial sector will make a contribution of five billion euros to the 2027 budget package, and an additional three billion euros in 2028 and two billion in 2029. The 2026 budget law included extra levies on banks and insurers worth around 4.4 billion euros. (ANSA).
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