Italy is the latest European country to impose a windfall tax on banks, following other countries like France and Spain. The tax aims to target excessive profits and use the funds to support mortgage holders and people affected by rising energy prices.
on energy firms and banks in November, aiming to raise $3.4 billion this year from profits deemed excessive to fund help for people and firms hit by soaring electricity and gas prices.that companies with more than 5,000 people should share more of their "exceptionally high" profits with employees instead of buying back shares. But he and Finance Minister Bruno Le Maire have ruled out the possibility of a windfall tax.
France also has a popular regulated savings scheme, which accounts for just under 20% of bank deposits, with an inflation-linked return that adjusts more quickly than loan rates.For some of Germany's biggest banks, net interest income has risen between 50% and 70% from the lows of the pandemic era, but a windfall tax has not been a topic for discussion under pro-business Finance Minister Christian Lindner.
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