Italy’s League party is proposing a three-year annual tax of 5% on its ten largest banks to bolster public finances. Vice Prime Minister Matteo Salvini announced the plan, aiming to increase the national budget. The proposal will be included in the 2027 budget draft and seeks contributions from the most profitable institutions. This measure comes as Italy, the third largest economy in the EU, explores avenues for increased revenue. Salvini expressed confidence that the proposal will be approved, signaling significant support within the governing coalition. The move reflects a broader trend of governments seeking contributions from the financial sector to address economic challenges. Details on the exact implementation and potential impact on the banking industry are yet to be released.