Italy’s Salvini backs Spain-style bank tax

Italy’s Vice Premier Matteo Salvini stated on September 6, 2026 that he will propose a new tax on banks as part of Italy’s budget. Speaking in Cernobbio, he said the initiative would be structured along the lines of measures recently adopted in Spain. Salvini framed the move as a clear intention to include a banking tax proposal in the upcoming budget package, without giving further technical details.

His comments indicate that the idea is at the stage of a political commitment rather than a finalized law or draft bill. No specific rate, scope, or implementation timeline was disclosed. The focus instead was on signaling the type of approach Italy might pursue and the areas of bank activity that could fall under the tax.

Salvini said Spain’s approach to taxing banks is the reference for his proposal. He described the Spanish measures as targeting banks’ profits, interest income and expenses, and fees. By pointing to these categories, he outlined the main financial components of banking activity that might be considered taxable bases in Italy.

He also indicated that, despite broader political differences with Spain’s government, he views its banking tax design as an “intelligent” initiative. This distinction underscored that his endorsement is limited to the technical structure of the tax rather than a wider alignment on policy.

The comments were made during the Ambrosetti Forum in Cernobbio, a venue where political and economic leaders often outline policy priorities. Salvini spoke in a media interview on the sidelines of the event, using the occasion to send a clear signal about his budget intentions. The date of the remarks, September 6, 2026, ties the discussion directly to preparations for Italy’s forthcoming budget cycle.

By framing the tax as “something we’ll propose in the budget,” Salvini linked it to the broader fiscal planning process rather than to a standalone initiative. This suggests that any bank tax proposal would be considered alongside other revenue and spending measures when the government drafts and negotiates the budget.

Targeting banks’ profits, interest-related items, and fees would directly affect core revenue streams for Italian lenders if a tax is eventually adopted. While no quantitative estimates were provided, identifying these components signals where potential fiscal pressure may be directed within the financial sector. The proposal therefore carries significance for banks’ income structures and business models.

At the same time, placing the initiative in the context of the national budget underscores its role as a potential tool for raising public revenue. As the budget process unfolds, the scope and design of any bank tax will likely be central to discussions on how to balance fiscal needs with the health of the financial system. Salvini’s statement marks an early indication of how the government may seek to shape that balance.