Italy approves tight budget partly funded by a levy on banks and insurers
Italy’s far-right government has approved a budget for next year of about 30 billion euros, or $33 billion, which officials say will be partly funded by a levy on Italian banks and insurers
ROME (AP) — Italy’s far-right government has approved a budget for next year of about 30 billion euros ($33 billion), which officials say will be partly funded by a levy on Italian banks and insurers.
Prime Minister Giorgia Meloni said late Tuesday that the government expected to raise some 3.5 billion euros from banks and insurance companies to ensure better public services, especially the country's struggling health service, and help the most vulnerable citizens.
“As we promised, there will be no new taxes for citizens,” Meloni wrote in a post on X.
The 2025 budget law was agreed by ministers at a cabinet meeting late Tuesday, just in time to meet a deadline to submit the plan to the European Union. The measures still need to be approved by the Italian parliament, with a final vote expected by the end of the year.
