Intesa Sanpaolo CEO criticizes Italy's bank tax plan

An article confirmed that Italy's Intesa Sanpaolo bank criticized the government's plan to increase taxes on banks and insurance companies in order to fund the 2027 budget, calling for the energy cost burden to be shared across other sectors rather than placing it solely on the financial sector. The bank's CEO noted that the financial sector had previously agreed to make a financial contribution for three years, but the government extended the period, and the tax increases are expected to raise around 10.7 billion euros between 2027 and 2029. The government justifies this by aiming to provide resources for the budget, while emphasizing a shared responsibility among sectors to lighten the burden on the financial industry.

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