Economy

How a home-improvement assistance is damaging Italy's public financial resources

.SIMPLY thinking of it "gives me a tummy pain", stated Italy's finance official, Giancarlo Giorgetti. He was actually pertaining to a home-improvements aid that has become the economic equivalent of Master Kong: a beast running riot, wreaking havoc on the country's seldom-robust publicised profiles. On April 9th Mr Giorgetti showed that cases of the subsidy, known as the "superbonus", made in the four years that the program has been managing, together with cases of yet another that offsets the expense of renovating fau00e7ades, would at some point drain the treasury of EUR219bn ($ 233bn). That is practically 10% of Italy's GDP in 2014. How in the world performed traits get to this aspect?