Giulio Tremonti

Giulio Tremonti

Minister of Economy and Finances
In office
8 May 2008  16 November 2011
Prime Minister Silvio Berlusconi
Preceded by Tommaso Padoa-Schioppa
Succeeded by Mario Monti
In office
23 April 2005  17 May 2006
Prime Minister Silvio Berlusconi
Preceded by Domenico Siniscalco
Succeeded by Tommaso Padoa-Schioppa
In office
10 June 2001  3 July 2004
Prime Minister Silvio Berlusconi
Preceded by Vincenzo Visco
Succeeded by Silvio Berlusconi (Acting)
In office
10 May 1994  17 January 1995
Prime Minister Silvio Berlusconi
Preceded by Franco Gallo
Succeeded by Augusto Fantozzi
Personal details
Born (1947-08-18) 18 August 1947
Sondrio, Italy
Political party Italian Socialist Party
Segni Pact
Forza Italia
The People of Freedom
Labour and Freedom List
Alma mater University of Pavia
Profession Lawyer
Law professor
Religion Catholic Church

Giulio Tremonti (Italian pronunciation: [ˈdʒuːljo treˈmonti]) (born 18 August 1947) is an Italian politician. He served in the government of Italy as Minister of Economy and Finances under Prime Minister Silvio Berlusconi from 1994 to 1995, from 2001 to 2004, from 2005 to 2006, and from 2008 to 2011.


Tremonti is a full professor of law at the University of Pavia, Italy, and has been a visiting professor at the Institute of Comparative Law, Oxford. His particular fields of interest are fiscal and tributary law, as well as fiscal policies.

Born in Sondrio, Northern Lombardy, in a family of Venetian ancestry (from Lorenzago di Cadore, Northern Veneto), he was the man who facilitated the dialogue between billionaire entrepreneur/politician Silvio Berlusconi and Umberto Bossi, leader of the federalist Northern League and a friend of Tremonti's, leading to the formation of the center-right coalition House of Freedoms. Although a member of Forza Italia, on many issues he is closer to the League. In particular, he is a staunch political and fiscal federalist, supporting a federal reform of the Italian political system and more autonomy for Lombardy and Veneto, where he has his core supporters.

He first ran for the Italian Parliament in 1987 with the Italian Socialist Party. Elected for the first time in 1994 for the Pact for Italy, he switched his allegiance to center-right Forza Italia soon after the Parliament held session, and obtained the finances position in the first Berlusconi cabinet.

Tremonti again served as finances minister from 2001 to 2004[1] when Berlusconi came back to power. He was compelled to resign after internal disputes about the economic situation of the country within the House of Freedoms, particularly with conservative National Alliance. In late 2005 he was then reappointed to the same position for a third time after his substitute Domenico Siniscalco resigned until the end of the Berlusconi III Cabinet. At the 2008 general elections Berlusconi came back to power with a large majority in the parliament and assigned Tremonti the Economics and Finances position. At the end of 2011, following some rumors Tremonti would close to leave Pdl and to adhere to the Northern League. On 5 September 2012 Tremonti announced that he was setting up his own political movement ahead of elections to be held by next spring, potentially siphoning support from Silvio Berlusconi's People of Freedom party.

During his time in office, Tremonti made the first and biggest across the board Income tax cuts in Italy by introducing a No-Tax-Area (2003) and reducing the top marginal tax rate (2005). He also made a significant reduction in the Corporate tax rate (from 36% to 33% now down to 27.5%) and has abolished taxes on reinvested profits. He has also completely abolished all Donation taxes, Estate/Inheritance taxes (2001) and more importantly Property taxes on Housing/Real Estate (2008) at the national level (property continues to be taxed at the local level). Nevertheless, after these measures, the OECD stated in its latest (2007) report on Italy that "tax rates are high compared to other countries".[2] He has been the promoter of the Global Legal Standards.

As an author, during his life Tremonti has written mostly on taxation and international trade. He expressed how high taxes are a drag for growth and how fiscal federalism can create territorial taxation competition between regions that can reduce the burden on families and workers. He has also been a critic of China's dumping trade policy that causes delocalization of jobs from Europe to Asia.[3] Nevertheless, in 2009 he gave an important lecture at the Central Party School of the Communist Party of China.

He is currently chairman of the Aspen Institute Italia and a frequent guest columnist on the Corriere della Sera.


  1. Luca Verzichelli; Maurizio Cotta (July 2012). "Technicians, technical government and non-partisan ministers. The Italian experience" (PDF). CirCap. Retrieved 4 January 2014.
  2. "Economic Survey of Italy 2007". OECD. 4 June 2007. Retrieved 10 July 2011.
  3. "Tremonti was always fairly suspicious of globalization, once remarking that Europe would end up in the pot of a Chinese cook if it wasn’t careful." Tony Barber, Financial Times, 2008

Books on Economics and Finances

Political offices
Preceded by
Franco Gallo
Minister of Economy and Finances
Succeeded by
Augusto Fantozzi
Preceded by
Vincenzo Visco
Minister of Economy and Finances
Succeeded by
Silvio Berlusconi
Preceded by
Domenico Siniscalco
Minister of Economy and Finances
Succeeded by
Tommaso Padoa-Schioppa
Preceded by
Tommaso Padoa-Schioppa
Minister of Economy and Finances
Succeeded by
Mario Monti
Preceded by
Alfredo Biondi
Publio Fiori
Clemente Mastella
Fabio Mussi
Vice President of the Chamber of Deputies
Served alongside: Pierluigi Castagnetti
Carlo Leoni
Giorgia Meloni
Succeeded by
Rosy Bindi
Rocco Buttiglione
Antonio Leone
Maurizio Lupi
Party political offices
New office Vice President of Forza Italia
Succeeded by
Roberto Formigoni
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