Italian banks intend to drag the government to the Constitutional Court if tax increases in the upcoming budget law proceed, Il Fatto Quotidiano reported.
Giorgia Meloni hoped to avoid legal challenges, but financial institutions made their stance clear during parliamentary hearings and official briefings.
The looming legal battle threatens a budget measure that extracts nearly five billion euros from the financial sector for 2027. Giorgia Meloni is scheduled to meet majority leaders on Monday evening to resolve final disputes before the legislation reaches the Council of Ministers.
The dispute centers on a three-year agreement struck in 2025, which established a total contribution of ten billion euros from banks and insurance companies. That arrangement raised IRAP rates by two points and adjusted deferred taxes, avoiding an excess-profits tax.
Antonio Patuelli, president of the Italian Banking Association, questioned the reliability of the government’s commitments during a meeting of the ABI executive committee in Milan. Patuelli referenced Emperor Justinian and the legal principle of pacta sunt servanda, implying that the state must respect previously signed agreements.
Carlo Messina, chief executive officer of Intesa Sanpaolo, criticized the renewed demands from Rome after the financial sector already committed to long-term stability. Messina noted that government representatives originally requested the three-year duration to ensure predictable state accounts.
Messina defended the sector’s broader economic footprint by pointing out that the state collects 25 billion euros in taxes on 50 billion euros of banking profits. Nonostante l’opposizione al nuovo prelievo, Messina ha elogiato l’azione di Giorgetti e Meloni nella tutela dei conti pubblici, invitando a fare squadra in una fase di crescente incertezza economica internazionale.
Antonio Tajani favors expanding the financial levy across the broader financial industry rather than targeting banks alone. However, cabinet members remain divided on the precise mechanisms and legal instruments required to secure the funds.
The Council of Ministers will review the budget text in the coming days, with parliamentary submission scheduled before the end of the month.
