Omnibus decree, the banks in Milan collapse after the tax on extra profits. Lost 10 billion


By John

A 40% withdrawal on extra profits accrued from banks. The norm arrives surprise on the table of the last meeting of cabinet before the summer break. The provision, which enters the so-called Asset decree, is limited to 2023 and foresees that the proceeds will be used to support the cut in taxes and the cost of mortgages for the purchase of a first home.

“There will be a 40% withdrawal from multibillion-dollar extra profits for the banks, limited to 2023” and this fund “which we think will be quite adequate, will feed the rumors on the tax cut and the support for first home loans“, claims the Deputy Prime Minister Matteo Salvini who is responsible for the announcement. For the leader of the League, “Minister Giorgetti has brought to the Council a rule of social equity”.

Stock market: banking stocks plunge after the announcement of the tax on extra profits

The new Italian tax on the extra profits of banks takes the market by surprise and the stocks of companies listed on Piazza Affari collapse in the first hour of trading, wiping out around 10 billion euros from the stock market capitalisation. Bper Banca sells 7.6%, Finecobank 7.3%, Intesa Sanpaolo 6.9%, Mps 6.8%, Banco Bpm 6.6%, Unicredit 5.5%, Mediolanum 3, 3% and Mediobanca 1.6%. Analysts point out that “the new simulated impact is even higher than the simulation we ran in April” and calculate that the net profit of banks in 2023 could be reduced by about 10 percent.

Bridge over the Strait

The meeting at Palazzo Chigi also gives the green light to the rremoval of the salary cap in favor of super consultanti who will work on the realization of the Strait Bridge, a measure accompanied in recent days by numerous controversies by the opposition.

Salvini clarifies that the law will not concern the members of the board of directors of the Ponte dello Strait company, but only “executives as is already the case in Anas, Rfi and in the company set up for the Jubilee”. A necessary ‘touch’, even after the solicitations that would have arrived from Palazzo Chigi.


The executive also approves the expectations new taxi regulationswith the possibility for the Municipalities to increase up to 20% off existing licenses but without the provision which initially envisaged the accumulation of the definitive ones.

A provision contested by the category with some union acronyms announcing mobilizations and strikes. “There will be further comparisons in addition to those we have already had with sector operators and institutions. The text in the process in Parliament could be improved but it is already a significant response to a shortcoming that has affected the sector for too long”, explains the Minister of Enterprise Adolfo Urso.

Instead, the provision that introduced an increase in the limits of 5G is skipped.


Green light also to the other omnibus decree on Justicewhich provides for more severe penalties for those held responsible for fires and the allocation of 8 per thousand to drug addiction.

“We have introduced other rules against organized crime by extending the possibility of wiretapping to typical crimes both in the specific case of the crime and when they are aggravated in terms of terrorism and the aggravating circumstance of the mafia system”, he says the Minister of Justice Carlo Nordio at the end of the CDM.


The stop to isolation for Covid positives also comes, thus ending the last measure of social restriction that became necessary in the years of the pandemic.

Dear flights

To curb the dear flights the government also introduces a provision that prohibits the dynamic setting of fares by airlines. The rule is modulated in relation to the time of the reservation if the fixing is applied on national routes connecting with the islands and takes place either during a period of peak demand linked to seasonality or in conjunction with a national state of emergency and if it leads to a sale price of the ticket or ancillary services, del 200% higher than the average flight fare.


An intervention also on fishing sector to try to alleviate the critical issues related to the exponential proliferation of the blue crab. “It is particularly aggressive and has come from other seas in the Mediterranean, in particular in the Adriatic, but also with presence in the Tyrrhenian Sea. The disposal of this animal is foreseen”, argues the Minister of Agriculture Francesco Lollobrigida.


To monitor the transfer abroad of particularly critical technology, even when this occurs intra-group, the CDM with the Asset Decree approved today authorizes the exercise of special powers when the deeds and operations concern artificial intelligence, machinery for semiconductor manufacturing, cybersecurity, aerospace, energy storage, quantum and nuclear technologies.

Minimum salary

Finally, on the front of the minimum salary, which has sparked the political debate in recent weeks, Prime Minister Giorgia Meloni should meet with the opposition on Friday, after the 60-day suspension of the bill approved by the Chamber of Deputies.