Politics · Italy · 8 hrs ago
Fratoianni says wealth tax will be in progressives’ programme
Nicola Fratoianni said Italy’s progressives will propose a wealth tax in their programme.
Fratoianni, a lawmaker and leader of the Italian Left party, made the case on Italian television.
The proposal would tax the richest 0.1% of Italians, around 50,000 people with wealth above €5.4 million.
Its model is based largely on a plan from Oxfam Italy, which estimated it could raise about €15.7 billion a year.
Estimates of the tax revenue vary, from about €10 billion to €16 billion, with one projection at €13.2 billion.
Fratoianni said claims that wealthy people would take their money abroad were overstated, and argued that the revenue could support health care, schools, welfare and environmental measures.
He said the proposal will be included in the progressives’ programme, alongside calls to raise wages and reduce taxes on work.
Nicola Fratoianni said a wealth-tax proposal will be included in the progressive camp’s programme.
The Italian left-wing politician argued that claims the tax would cause capital to flee are false.
He said the proposal would apply to the wealthiest 0.1% of Italy’s population, about 50,000 people with assets above €5.4 million.
Estimates of its potential annual revenue range from €10 billion to €16 billion, according to figures cited in the article.
Fratoianni said the revenue could support public services and help raise wages.
- Who
- Nicola Fratoianni, an MP for Avs and secretary of Sinistra Italiana, presented the proposal.
- What
- He said a wealth-redistribution proposal would be included in the progressive camp’s programme.
- When
- He made the remarks on the La7 programme Omnibus; the article was published on 2 November 2026.
- Where
- On La7, an Italian television channel.
- Why
- He said redistribution could address inequality and provide resources to raise wages and fund public services.
This story does not have two clearly opposing sides.
Oxfam Italia published the model on which Avs’s proposal is based, as part of its “La Grande Ricchezza” campaign.
Fratoianni discussed the proposal on La7’s Omnibus and said it would be in the progressive camp’s programme.
- Proposed tax base
- The wealthiest 0.1% of Italy’s population
- People affected
- About 50,000
- Asset threshold
- More than €5.4 million
- Potential revenue estimates
- €10 billion to €16 billion
- Oxfam Italia estimate
- About €15.7 billion annually
What people are saying
The flight of capital is one of the falsehoods told about this measure.
Our proposal is only a question of political and economic rationality.
Redistributing wealth in the face of unacceptable inequalities is decisive.
We will defend this proposal in the programme.