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[BUSINESS] · Italy · 5 sources

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Carlo Cottarelli opposes windfall profit taxes on banks and energy firms

windfall profit tax energy companies banking sector economic policy investment uncertainty

Economist Carlo Cottarelli has expressed opposition to proposed windfall profit taxes targeting banks and energy companies. In an interview, Cottarelli argued that such taxes are based on arbitrary definitions of what constitutes an extra profit.

He warned that sudden windfall taxes create fiscal uncertainty and discourage corporate investment, which could negatively impact the national economy. Cottarelli noted that while such measures might be considered during extreme, deep economic crises, the current situation does not warrant them.

Regarding high energy costs, Cottarelli suggested that state intervention should be narrowly targeted toward those in genuine financial distress. He cautioned that state-funded relief does not eliminate costs but rather shifts the burden to citizens through increased public debt, higher taxes, or reductions in public spending.

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Carlo Cottarelli

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Sources

Energia, Cottarelli: “No a tasse sugli extraprofitti, si scoraggiano gli investimenti” [www.vetrinatv.it]
Tassa extraprofitti, il parere di Sara Kelany [quifinanza.it]
Energia, Cottarelli: "No a tasse sugli extraprofitti, si scoraggiano gli investimenti" - Il Quotidiano del Sud [www.quotidianodelsud.it]
Energia, Cottarelli: "No a tasse sugli extraprofitti, si scoraggiano gli investimenti" [www.key4biz.it]
Energia, Cottarelli: "No a tasse sugli extraprofitti, si scoraggiano gli investimenti" [www.unmondoditaliani.com]