Italy’s League Pushes for €3 Billion Bank Levy in 2027 Budget

The League’s plan hinges on a 5% levy intended to channel funds toward families, businesses, and security initiatives. This target sits atop the €12 billion the government already expects to collect from banks and insurers through 2028 via existing measures, including adjustments to the IRAP corporate tax. The move serves as a political marker for the budget due next month, which will be the final fiscal roadmap before the next electoral cycle.

Opposition remains fierce from within the government ranks. Forza Italia, led by Foreign Minister Antonio Tajani, continues to reject the concept of taxing what the League labels as "extra profits." Tajani has instead advocated for any financial contributions to be negotiated directly with banks, structured as advance tax payments rather than punitive levies. With Economy Minister Giancarlo Giorgetti involved in the upcoming budget planning, the tension underscores the widening policy gap between the coalition’s right-wing and centrist wings.