October 4, 2018 / 11:48 AM / 18 days ago

'Sacrosant' to take away from bankers and give to citizens: Italian deputy PM

ROME (Reuters) - Italian Deputy Prime Minister Luigi Di Maio said on Thursday it was “sacrosant” to take privileges away from bankers in order to give back rights to citizens.

“If the wellbeing of the economy would depend on the privileges of bankers then, with all the billionaire gifts that have been made to them by the previous governments, we would be the land of milk and honey,” Di Maio, who is also leader of the 5-Star Movement, said on his Facebook profile.

The government is considering a move to reduce the amount of interest payments and accounting losses that banks can deduct from their taxable income as part of measures to fund next year’s budget, a government source said earlier.

The 5-Star, part of the executive with the far-right League, has repeatedly railed against scandals in the national banking sector, laid low by a deep recession and under pressure because of its exposure to domestic sovereign bonds.

Reporting by Massimiliano Di Giorgio, writing by Giulia Segreti; Editing by Crispian Balmer

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