Published • loading... • Updated
Italy may hike tax on energy firms to fund budget: Reuters
Sources said the levy would help cover tax cuts and spending hikes as energy and borrowing costs strain Prime Minister Giorgia Meloni’s budget plans.
- Italy may increase taxation on energy companies to fund tax cuts and spending hikes in the 2027-2029 budget set for presentation next week, sources told Reuters on Friday.
- Surging energy and borrowing costs complicate Italian Prime Minister Giorgia Meloni's final budget before next year's national elections, forcing the government to seek additional revenue sources.
- Mounting pressure from public protests over rising living costs intensifies the challenge, with truck drivers blocking southern roads and taxi drivers planning a rally outside Rome's economy ministry on Monday.
- Energy giant Eni reported third-quarter net profit more than doubled from a year ago, enabling the company to pay a €1.3 billion special dividend and expand its share buyback program on Friday.
- The Draft Budgetary Plan published last week makes no mention of new energy levies, yet Rome is planning unspecified tax hikes totaling €10 to €11 billion, or 0.44% of national output, over three years.
Insights by Ground AI
4 Articles
4 Articles
Coverage Details
Total News Sources4
Leaning Left0Leaning Right0Center2Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
Factuality
To view factuality data please Upgrade to Premium
