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Italy to Hike Tax on Profits of Energy Firms to Fund Aid Package

  • Draghi’s cabinet meeting Monday in Rome to agree measures
  • Package partly funded with borrowing plan unveiled last month
Updated on

Italy is set to raise a tax on additional profits made by energy companies due to rising prices to help finance a new 14 billion-euro ($14.7 billion) aid package, according to people familiar with the matter.

The latest aid package, to be approved Monday, will provide further support to companies and consumers hit by surging energy costs, a trend that has been exacerbated by the prospect of reduced gas flows from Russia.