Economy

How a home-improvement assistance is ravaging Italy's social financial resources

.MERELY considering it "offers me a tummy ache", said Italy's money minister, Giancarlo Giorgetti. He was describing a home-improvements assistance that has actually turned into the fiscal matching of Master Kong: a beast cutting loose, wreaking havoc on the nation's seldom-robust public accounts. On April 9th Mr Giorgetti exposed that cases of the assistance, referred to as the "superbonus", made in the four years that the scheme has been managing, alongside insurance claims of one more that offsets the expense of renovating fau00e7ades, would inevitably drain the treasury of EUR219bn ($ 233bn). That is virtually 10% of Italy's GDP in 2013. Exactly how on earth carried out traits come to this aspect?

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