The Italian FTSE MIB index on the Milan Stock Exchange fell by 2.2 percent, after which it offset some of the decline. UniCredit and Intesa Sanpaolo shares fell at least 5%. In London, the Stoxx Europe 600 Index fell 0.1%. (at 8:53_.
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Tax on windfall bank profits in Italy
– We were right when we said for months that The European Central Bank makes a mistake by raising interest rates. Now we are dealing with the result of that,” said Antonio Tajani, Italy’s deputy prime minister.
Matteo Salvini, in turn, calculated that in the first half of 2023, banks generated considerable profits.
We are not talking about a few million, but about billions of euros. While the cost of borrowing for consumers and businesses has doubled, we are not seeing a similar increase in bank deposit rates, he said.
The Italian tax on bank profits is part of a huge package that includes both taxi licenses and foreign investments. According to Ansa agency could bring over EUR 2 billion to the state coffers. These proceeds are to finance tax cuts and support for mortgages for owners of first homes.
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2023-08-08 09:57:57
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