There have been calls for similar levies on the excess profits made by energy companies due to the surge in fuel prices linked to the Ukraine war.

“[The government] does not intend to introduce other measures on extra-profits such as the one on banks,” Uros told the annual meeting of lay Catholic lobby Communion and Liberation (CL) in Rimini.

“We have no intention of doing anything else: there are no other sectors in which there is such an obvious gap,” he said.

“[The tax on banks’ extra-profits] is a fair measure, it is not a right or left-wing measure but a fair one. There is a debate in Parliament, everything can be improved,” Urso added.

Due to market turmoil the government had to intervene on the original bank tax plan, limiting it to 1 per cent of assets.

The late Silvio Berlusconi’s centre right Forza Italia (FI) party has been calling for the tax to be made deductible and a one-off, also sparing smaller local institutes of credit.

ANSA