Buyback Tax Not Suitable for Banking Sector Intervention, Says Tajani

Cernobbio: A bank buyback tax is no way to intervene in the sector, Foreign Minister Antonio Tajani said at Cernobbio Friday. Regarding the potential tax on bank buybacks, “I am absolutely against it, it’s pointless, it scares investors, this is not the way to intervene, we need dialogue, we need discussion,” said Tajani, who is also deputy premier, on the sidelines of the annual Ambrosetti Forum in the lakeside town.

According to Ansa News Agency, the proposal of a buyback tax on banks has faced criticism from key figures in the government, with Tajani leading the opposition. He emphasized the importance of maintaining investor confidence and suggested that imposing such a tax could lead to unnecessary panic in the financial markets. Tajani advocated for alternative approaches that focus on dialogue and discussion to address any issues within the banking sector, rather than implementing measures that could deter investment.