Italy’s government plans to raise an additional 10.7 billion euros from the financial sector over the 2027-2029 period to finance the state budget. Reuters reports this, citing a budget document sent to the EU.
Just over 5 billion euros is expected to be raised in 2027.
The proceeds will come on top of the 12 billion euros the government has already planned to raise from banks and insurance companies through 2028. It is not clear how the new revenue will be collected.
At the same time, the government plans tax cuts and spending increases of 23.5 billion euros in 2027.
The budget deficit is expected to increase from 2.9 percent of GDP in 2026 to 3.4 percent in 2027.
