Minister Tajani, the feeling is that – once again – it will be the economy that decides the winner of the upcoming general election. Do you agree?
‘Yes, I believe so too. Italians are rightly calling for greater prosperity, not a form of degrowth that can never be “happy”.’
We will go back to the polls in about a year’s time. Before the election, many voters are expecting something tangible from this government. The middle class is still waiting for measures that will put more money in their pay packets. What measures do you deem necessary?
“Firstly, we will raise the threshold for the IRPEF tax reduction to €60,000, to the benefit of our middle class. We want to lower taxes on young people, thereby effectively increasing their take-home pay. We must also begin to exempt thirteenth-month bonuses from taxes, starting with the lowest wages.”
Forza Italia has always had a targeted strategy for small business owners. What about this time?
“We have always valued those who take risks, set up companies and create jobs. Companies start small, and they later need the breathing space to grow and become economic players in markets, including global ones. This is the real driver of prosperity. Exports, which account for over 30 per cent of our GDP, continue to grow despite international crises and are approaching €650 billion. Next year we could reach 700 billion. But for companies to really take off, we need capital, a skilled workforce and, above all, a government that is not hostile, and bogged down in excessive bureaucracy and high taxes.”
“Wealth is being distributed in an increasingly unequal manner; the State and the EU need to take action” is the slogan not only of the left-wing parties, but also of commentators in the moderate media. Is this a problem for Forza Italia? Could taking measures on wealth be a solution?
“We are firmly opposed to a wealth tax. It would target assets on which tax has already been paid – a tax which, let us remember, is progressive and therefore increases as income rises. There are already 13 different types of wealth tax in Italy, ranging from road tax to taxes on current accounts and financial products. This is the reason why we also say ‘no’ to any suggestion of increasing inheritance tax, which we oppose on principle.”.
The tax burden on real estate and property assets could also increase through an update of cadastral registers. From time to time, there are calls to adjust the cadastral values. Would you accept such a move?
“The revision of the Cadastre needs not turn into another hidden wealth tax on Italians’ homes. Rather, we must focus on providing homes for those who do not have one, especially young people who are finding it increasingly difficult to afford one. The government’s Housing Plan is moving in this direction.”
There is still the problem of where to find the money to fund measures such as reducing fuel excise duties. You yourself have said that this is very costly.
“We certainly cannot introduce new taxes. Every time I hear people say we need to introduce a wealth tax, to tax “windfall profits” or revise the Cadastre, I feel like I am going mad because it is just another way of reaching even deeper into Italians’ pockets. In 2025 Italy’s public spending stood at over €1,150 billion, equivalent to 52% of GDP. A huge amount, which I believe could be sufficient if spent more wisely and made more efficient. This is everyone’s responsibility, including Regions and Municipalities: we must not waste public money, which is, after all, the Italian people’s money.’
Where can we be more efficient?
“I wish to recall what the President of Confindustria suggested: by restructuring the more than 500 types of support we provide to companies, we could recoup around €20 billion. Should we recall Italy’s vast, underutilised state-owned assets? We need to make good use of the €14 billion budget overrun agreed with the EU for energy – achieved thanks to our good teamwork – and the remaining funds from the NRRP and regional cohesion funds: this is a lot of money, but it is never mentioned.”
The League has once again suggested increasing the levy on bank profits. Could this be a solution?
“Our country needs many things, but it certainly does not need to scare investors with quasi-Soviet crusades against windfall profits. The tax measures relaunched in Italy by all left-wing parties have already proved to be a failure in every country that has introduced them. Or do we probably want to tell the market that the State can decide on a threshold beyond which a legally earned profit becomes an abuse? There are exceptional circumstances that may create the conditions for a voluntary contribution, but it needs to remain just that.”
So what will you do about banks?
“We want to engage in dialogue with them to create the conditions and incentives to ensure that the over €1.75 trillion in savings “parked” in current accounts is invested in the economy. If every Italian, acting of their own free will, found it profitable to invest €10 for every €100 they hold in banks, we would have an additional €175 billion in investment – a new NRRP every year. I am thinking solely of the role that professional pension funds could play: investing in Italy to help Italy grow. This would be the real turning point for reviving the country’s economy. Our savings are our oil.”
In practical terms?
“We need tools to convince Italians to invest in credible and profitable projects. Public-private project financing can be a driver of growth that creates wealth to be used across many sectors, from healthcare to minimum pensions, from infrastructure and new housing to reducing payroll taxes. I am thinking in particular of taxes on new recruits, to prevent young people from leaving the country.”
That is the reason why Confindustria’s Youth Group has asked you to cut income tax for workers under 35. What is Forza Italia’s response?
“The response is that they are right and we need to work towards this goal. We will also commit to reducing the tax burden on capital investment in young businesses and during the first five years of a start-up’s life. Our fight to reduce taxes aims to unlock potential and make the entire Italian economy grow.”
Could a controlled increase in public deficit be the way to put more money in workers’ pockets?
“It is true that taxes on labour are high, which is the reason why we have reduced the tax wedge. We can certainly use the deficit for support measures. But wages grow if the economy is strong and companies are healthy. Weak companies pay low wages; strong ones can pay high wages. Wages in exporting companies are generally higher than average. This is the reason why we also need adequate training and investment in new technologies. A fair wage is the result of pragmatic policies, not ideological shortcuts such as the minimum wage.”
