The Minister of Finance, Joaquim Miranda Sarmento, announced that, in the first half of 2026, a “new tax” will be drawn up aimed at the banking sector, after the Constitutional Court declared the additional solidarity tax that was in force unconstitutional.
In an interview with Antenna 1/Business Journalthe minister highlighted the need to reflect on the sector’s taxation and the importance of finding solutions that are not also subject to constitutional challenge. Sarmento highlighted that the current tax, created in 2020, generated 40 million euros annually, but now the State faces the obligation to return 200 million, which requires a cautious approach.
The person responsible for the Finance department assured that the Government will continue to work to maintain the balance of public accounts and identified possible proposals for changes to the State Budget for 2026 as the “main risk”. Despite admitting the possibility of captivation, Sarmento stressed that it will be done “sparingly”.
The full execution of the Recovery and Resilience Plan (PRR) is a priority for the Government. The minister left a warning to Parliament, stating that it will have to choose between executing the PRR and keeping the accounts in order or moving forward with proposals that could increase the deficit. If the PS and Chega come together to approve additional expenses, this will mean that they want the State Budget, which entered Parliament with a positive balance, to end with a negative balance, he concluded.