Italian Green‑Left leader Fratoianni urges wealth tax on the rich

Nicola Fratoianni, leader of the Alliance Verdi e Sinistra, has launched a campaign in Italy to introduce a patrimonial wealth tax on large fortunes. He argues that the richest 10 % of Italian families control about 60 % of the nation’s wealth and that a small elite of 79 individuals hold more than €300 billion while paying almost no tax. Fratoianni quoted Oxfam figures and said, “Basta, è ora di tassare i ricchi.” He proposes measures such as a 1 % “Equo” contribution on net assets above €2 million and warns that without an EU‑wide framework the country risks capital flight. The proposal meets resistance from the Democratic Party and the Five Star Movement, which claim it is not in their program. Party secretary Elly Schlein noted the lack of a shared European rule, while Fratoianni insists that redistributing wealth enjoys broad public support.