Italian banking association warns 2027 draft budget imposes 22 billion euro burden
Italy's banking association warns that the government's 2027 budget law imposes a 22 billion euro burden, raising constitutional concerns over targeted tax increases.
The Italian Banking Association (ABI) has raised severe objections to the government's 2027 draft budget during parliamentary hearings, warning that fiscal measures between 2025 and 2027 will impose an estimated 22 billion euro burden on the sector.
ABI Director General Marco Elio Rottigni cautioned lawmakers that proposed restrictions on IRES and IRAP tax deductions, alongside additional levies, threaten bank profitability, liquidity, and regulatory capital. Representatives argued the measures will hinder investments in cybersecurity, physical branch networks, and territorial presence. ABI also raised constitutional concerns regarding the targeted fiscal pressure on financial institutions, with reports indicating bank shareholders may consider challenging the law before Italy's Constitutional Court.
Sources: ANSA, Corriere della Sera, Il Messaggero, Il Sole 24 Ore, La Repubblica
How outlets assessed this
- La Repubblica Critical Highlighted CGIL's critique of opaque funding sources, fiscal drag, and heavy reliance on PNRR recovery funds.
- Il Sole 24 Ore Neutral Focused on CGIL's alternative tax proposal targeting wealth over 2 million euros to relieve workers and pensioners.
Sources
- La Repubblica — Manovra 2027, Cgil non fa sconti: coperture opache, massiccio ricorso a drenaggio fiscale e Pnrr
- Corriere della Sera — Le banche contro la manovra: «Va migliorata, impatto di 22 miliardi dal 2025». Sollevati dubbi di costituzionalità |
- ANSA — L'Abi: 'Sulle banche dal 2025 misure fiscali per 22 miliardi di euro'
- Il Messaggero — Banche contro la Manovra: «Costa oltre 22 miliardi». Il nodo dello spalma-Superbonus. Abi evoca la Consulta
- Il Sole 24 Ore — Riforma fiscale Cgil: nuova Irpef progressiva e contributo sulle grandi ricchezze oltre i 2 milioni di euro
Earlier coverage
- Nov 14, 2026, 02:30 PM UTCItalian banking sector and trade unions intensify opposition to 2027 draft budget
- Nov 14, 2026, 02:00 PM UTCItalian unions join banks in criticizing government's 2027 draft budget
- Nov 14, 2026, 02:00 AM UTCItalian unions propose alternative tax reform amid growing opposition to 2027 budget
- Nov 13, 2026, 06:30 AM UTCItalian banking association and central bank criticize 2027 budget proposal