Is the wealth tax threatening the Italians’ online current account again?

Is the wealth tax threatening the Italians’ online current account again?

We are all aware that in Italy there are great private savings, and this is certainly one of the strong points of our economy. There are many projects, we’ll see in due course“.

This sentence, pronounced by the Italian head of Government Conte during the press conference on May 17, makes savers tremble again. After ruling out the idea of a possible forced withdrawal, is the Prime Minister having second thoughts?

Whether you have a traditional or online current account, every time a politician makes such a statement, the thought goes to “solidarity contributions” and to the impact they could have on the economy. Conte’s statements were ambiguous and would not exclude the hypothetical scenario of the dreaded wealth tax. This issue was also discussed during our CEO’s interview with Panorama, in which a borderless online current account was also mentioned. This could be one of the most effective solutions to overcome the problem and protect savings.

What if the Prime Minister only wanted to praise the strength of the Italian economy, which resides precisely in private savings, without necessarily wanting to take measures that jeopardize the savings of Italians? The doubt remains and so does the chaos, manifested on social media through messages like these: “Here begins to lay the foundations for a wealth tax“, “Don’t you dare to put your hands in our current accounts“, taken up by journalists such as V. Feltri who, in the pages of the Libero newspaper, spoke out against the words of the Prime Minister, recalling that in addition to the wealth tax, already implemented by the Amato government, there is also the threat of the injunction to purchase national bonds.

It is important to remember that at the beginning of the pandemic, the Democratic Party had proposed the hypothesis of a forced withdrawal from the current account, online or traditional, through a sort of Covid-Tax, to be applied in 2020 and 2021 to tax Irpef incomes over 80,000 euros and allocate subsidies to those most seriously affected by the Coronavirus. It was a sort of solidarity contribution that had been categorically excluded by the Prime Minister, who stated firmly, in the interview with La Stampa last May 3, that in a period of crisis “the State gives to Italians and does not take“. And he added: “I categorically exclude a wealth tax” because our country’s debt remains sustainable “in the context of very substantial private savings and a particularly strong resilience of our entire economic system“.

The truth is that the measures that are going to be taken to deal with the economic problems that are afflicting the country are not yet well known and many Italians are still not sure whether their online current account is safe.

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