Italy shocks banks with 40% windfall tax for 2023 | Reuters
Italy shocks banks with 40% windfall tax for 2023 | Reuters
Italy dealt a surprise blow to its banks and sent shockwaves across the sector in Europe by setting a one-off 40% tax on profits reaped from higher interest rates, after reprimanding lenders for failing to reward deposits.
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I will remind you that Italy has a CONSERVATIVE GOVERNMENT. I wish Cons would follow their example. I wish our LIBERAL government would have half the brains to do this. We need to do this with our banks, grocery chains, airlines and oil companies.
It's not so much a conservative government. It's a populist government and as such they might do things that are popular with people.
IMO the term 'conservative' is somewhat fluid when the topic is other countries. For instance, Canadian/American conservatives/republicans (respectively) wouldn't even think of implementing a tax like that because in many ways they are the bankers.