Meloni says gambling sector will contribute €700m to Italy's 2027 budget

Italy's Prime Minister Giorgia Meloni said the gambling sector will contribute €700m towards the financing of the 2027 budget, speaking at a press conference on Wednesday 28 October. The announcement followed the Council of Ministers' approval of the budget package, whose main measures Meloni set out at the conference.

Meloni said the package draws on resources from several economic sectors as well as on a reduction in public spending. More than €5bn is to come from a contribution requested from banks and insurers and from an increase in the financial transactions tax, known as the Tobin tax. A €90,000 allowance is planned for the financial sector, which, according to Meloni, should substantially reduce or cancel the impact on popular and cooperative banks, which are more closely tied to lending to citizens.

A further contribution of about €700m will be requested from energy companies, in addition to resources already allocated in previous months to measures such as the bills decree. Meloni put savings from reduced ministry spending at about €1bn.

Meloni said the government's aim was not to penalise specific economic categories but to spread the weight of the funding across those considered most able to bear it. "Non è una manovra contro qualcuno," she said, adding that "in un momento complesso a chi ha meno problemi viene chiesto di dare una mano", while respecting the sustainability of the measures.