Italy’s Big Bank Shake-Up: The New Tax Game-Changer!

The Italy’s government has a plan to charge banks an extra tax. This new tax will be 40% of the bonus money banks might get from raising their interest rates.

Matteo Salvini, a top leader, mentioned after a major get-together that they hope to gather about €2 billion from this tax. This collected amount will then help ordinary people and businesses when they want to borrow money.

He pointed out that banks have earned a huge amount, in billions, in just half a year! This surprised and worried many in Italy’s banking world, making the worth of some top banks drop.

But things seemed to calm down when other officials mentioned there would be a maximum limit to this tax, and it’s a tiny portion compared to the bank’s total money.

Another leader, Meloni, shared a video saying that banks should always act fairly, but sometimes they fall short. That’s one reason they’re gaining so much.

Now, Italy’s lawmakers will talk about this tax idea, and they’ve got 60 days to make a final call on it.