FILE PHOTO-Matteo Salvini, Italian infrastructure minister and deputy PM, attends a news conference for the government's first budget in Rome, Italy November 22, 2022.
REUTERS/Remo Casilli/File PhotoROME, Aug 7 (Reuters) - Italy's cabinet on Monday approved a 40% windfall tax on banks for 2023, with proceedings to be used to help mortgage holders and cut taxes, the deputy prime minister said.
Salvini said the 40% levy on banks' extra profits that amount to several billion euros will feed items such as a reduction of the tax wedge, tax cuts and financial support to holders of mortgages on first homes.
The Italian government, including Prime Minister Giorgia Meloni, repeatedly criticised the ECB over repeated interest rate hikes.
Reporting by Angelo Amante and Federico Maccioni; Editing by Leslie Adler and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.
Persons:
Matteo Salvini, Remo Casilli, Salvini, Giorgia Meloni, Angelo Amante, Federico Maccioni, Leslie Adler, Grant McCool
Organizations:
REUTERS, European, Reuters, Treasury, ECB, Thomson
Locations:
Rome, Italy