Marina Berlusconi, the eldest daughter of Silvio Berlusconi, has called Giorgia Meloni’s plan to tax banks profits “demagoguery”, the first public criticism of the usually private businesswoman against Italy’s prime minister.
Her comments outlined divisions over the issue in the coalition government that includes her late father’s party.
Ms Meloni has taken personal responsibility for the measure, which targets extra profits made by banks from higher interest rates.
Marina Berlusconi, together with her brother Pier Silvio, has assumed effective control of the family business empire after the death of their father in June.
Forza Italia, founded by the former premier, put forward proposals in parliament to water down a measure which sparked turmoil in the banking sector when announced in August 2023.
“Who determines when a profit is extra and when it is normal?” Ms Berlusconi said to reporters after the assembly of Confindustria, the influential Italian business lobby.
Forza Italia amendments
“If it is extra, to what extent is it? This is a measure that leaves itself open to several doubts and criticisms,” she said, warning it could deter foreign investors.
Forza Italia amendments would allow banks to partly deduct what they have to pay from their overall corporate tax bill, exempt smaller banks from paying the tax and exclude returns on government bonds from the levy.
The party is also proposing to cap the levy at 0.18 per cent of risk-weighted assets (RWAs) instead of the current 0.1 per cent cap on total assets.
Ms Meloni said she was open to some modifications provided the targeted tax take remained unchanged at “just under” €3 billion (£2.5 billion).
The Berlusconi family holding company Fininvest has a 30 per cent stake in Italian asset manager Mediolanum, a company that would be hit by the levy.
Ms Berlusconi made it clear she broadly appreciated the way Ms Meloni was handling Italy’s strained public accounts and its foreign policy, renewing her support for Antonio Tajani, the foreign minister, who has taken the reins of Forza Italia.
“The legislature is still long and there are so many challenges and problems to tackle, it is too early to give a full judgement. Government had to face a very complicated economic situation,” she said.
