Italy shocks banks with 40 percent windfall tax for 2023
Italy shocks banks with 40 percent windfall tax for 2023
The move comes after higher interest rates have yielded record profits for banks as the cost of loans has soared.
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Bout time. Spain did it two years ago and now has inflation down to 2%.
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Food?
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Governments change, the current one handled this crisis pretty well. Spain also became a de facto lider in Europe on energy policy.
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I don't know where are you getting this from. The have better GDP forecast than Germany for example and one of the lowest inflation in EU. Part of this is thanks to lower energy prices achieved thanks to policies that are now copied by other countries. And the current government did pretty good in elections just couple weeks ago so I don't think people feel overtaxed. Biased much?
The unemployment rate is horrendous, at 13.3% in the first quarter of 2023. In comparison, Germany was at around 5.5%, the UK at about 3.8%, and the US at around 3.5%.
Edit: And when you scope that to youth unemployment, the rate in Spain is nearly 30%. I won't pretend to know enough about Spanish economic policy to speculate on causes, but things are not exactly going well.
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The debt looked like this well before the energy crisis and it grew to over 100% under right wing government: https://www.macrotrends.net/countries/ESP/spain/debt-to-gdp-ratio Current government was hit by Covid but they actually managed to lower it in 2021. And I'm of course not saying that Spain is economically in better situation than Germany over all, just that this government managed current crises pretty well and got inflation and GDP under control faster than them and most other countries.
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Sure, because higher taxes fuck over people's lives but inflation, recession, unemployment and high costs of living do not. Just look how happy everyone is in UK with their current cost of living crisis. Not raising taxes sure worked out great for them...
Also, I'm not Lemmy. Don't know why would you generalize like that.