Italy’s windfall tax on banks can be amended leaving take-up unchanged, PM says

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Italian PM Meloni holds her end-of-year news conference in Rome

Italian Prime Minister Giorgia Meloni holds her end-of-year news conference in Rome, Italy, December 29, 2022. REUTERS/Guglielmo Mangiapane/File Photo Acquire Licensing Rights

ROME, Sept 13 (Reuters) – Italy’s windfall tax on banks can be amended provided the expected take-up from the levy remained unchanged at “just under” 3 billion euros ($3.22 billion), the Italian prime minister said on Wednesday.

“Corrections can be considered, but I do not want to backtrack,” Prime Minister Giorgia Meloni told a TV show.

The European Central Bank (ECB) on Wednesday criticised the Italian government’s proposed tax on windfall bank profits, saying it did not consider lenders’ long-term prospects and could make some of them vulnerable to an economic downturn.

($1 = 0.9310 euros)

Reporting by Angelo Amante, editing

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