Italian Prime Minister, Giorgia Meloni, opted to attend the Formula 1 Grand Prix at Monza instead of addressing investors at the Ambrosetti Forum in Cernobbio. Meloni's absence disappointed investors who were hoping to hear her thoughts on her recent interventionist moves on Italian companies. The government's increasing control over the economy, such as the surprise 40% tax on bank profits and the decree allowing state ownership in Telecom Italia, has raised concerns among investors. While Meloni's spokesperson claimed that she was not scheduled to attend the forum, Meloni herself acknowledged that she couldn't attend everything and promised to attend the forum next year.
The business community at the conference expressed discontent with the government's windfall tax on banks' extra profits, with 33% of attendees polled being "very negative" about the measure. Additionally, two-thirds of participants had an overall negative view of the tax. Finance Minister Giancarlo Giorgetti's speech on the country's economic plans was eagerly anticipated, as attendees sought information on the government's intention to sell stakes in various companies and its plan to widen the deficit for upcoming budget laws.
Meloni's absence stood in contrast to the significant presence of her cabinet, including Infrastructure Minister Matteo Salvini and European Affairs Minister Raffaele Fitto. Salvini, who is also a deputy premier, was scheduled to attend the Monza Grand Prix but chose to address investors at the Ambrosetti Forum first.
In previous years, prime ministers such as Paolo Gentiloni, Mario Monti, and Matteo Renzi, as well as Meloni herself prior to becoming prime minister, have spoken at the Ambrosetti Forum. The event typically gathers international heads of state, government representatives, European institutions, and Nobel Prize laureates for closed-door discussions.