Budget: Tajani says the financial sector as a whole is contributing, including CDP and other organisations

Not just banks and insurance companies, but also protecting cooperative credit societies and community banks

(Il Sole 24 Ore Radiocor) - “Work is underway across the entire financial sector, not just banks and insurance companies. I believe that Cassa Depositi e Prestiti and other organisations should also be involved.” So said Deputy Prime Minister and Foreign Minister Antonio Tajani, when questioned on the sidelines of the “Welfare, Italia” conference about the arrangements being considered for the contribution of banks and insurance companies to the 2027 budget.

He emphasised that the approach to the levy would be “non-punitive, and would not target so-called ‘extra profits’, because I need to understand who decides what constitutes an ‘extra profit’”.

Tajani went on to clarify that it will therefore be necessary to consider “a different kind of measure” with regard to the taxation of profits, “taking particular account of the specific nature of local banks, cooperative credit banks and people’s banks, which must be protected because they are the ones that provide loans to small business owners and households”: “I shall emphasise – and I believe I will find a receptive ear amongst the other parties in government as well – the special role played by cooperative credit banks and people’s banks. We must take great care to ensure that any measures do not have a severe impact on, or create problems for, cooperative credit banks and other local banks.”

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