Overview

• Majority leaders agreed to secure about €4.4 billion in 2026 from the financial sector, with reports pointing to a roughly 27.5% charge on profits parked in reserves.
• The approach is framed as a sectoral contribution rather than an extra‑profits tax, reflecting Forza Italia’s opposition to any measure labeled as such and the Lega’s push for a sizable payment.
• The Documento Programmatico di Bilancio outlines a budget package averaging about €18 billion per year from 2026 to 2028 and counts more than €11 billion from banks and insurers across three years.
• Other key coverages include roughly €5 billion from a reprogramming of the PNRR and ministerial spending reviews, with formal sign‑off pending in the Council of Ministers.
• Policy measures in the plan include cutting the second IRPEF rate to 33%, detaxing wage increases with a 10% flat levy through 2028 including for parts of public‑sector pay, and freezing pension‑age hikes only for arduous jobs in 2027–2028.