Italy's Tajani Urges Banks, Energy Firms to Advance Taxes to Fund Budget

Italy's Deputy Prime Minister Antonio Tajani has proposed that banks and large energy companies voluntarily bring forward tax payments to help the government fund next year's budget and additional relief measures for households facing high energy costs.

Speaking on the sidelines of the annual TEHA Ambrosetti business forum in Cernobbio on Friday, Tajani — who also serves as foreign minister — said such contributions could be structured along the lines of agreements reached last year with banks and insurers, and more recently with major energy firms.

Those recent accords allowed the government to extend a cut in fuel excise duties. Tajani argued that it is fair for profitable companies to contribute during times of need, but stressed that negotiated solutions are preferable to imposing windfall taxes, which he said could unsettle markets.

His remarks highlight a divergence within Italy's ruling coalition. Tajani's Forza Italia party has traditionally resisted proposals by coalition partner The League to impose windfall levies on financial or energy sector profits.

When asked whether last year's arrangement with banks could be renewed, Tajani indicated that the government would engage with lenders if emergencies arise while preparing the next budget.