Economy

How a home-improvement subsidy is trashing Italy's public financial resources

.SIMPLY thinking of it "gives me a belly ache", said Italy's financing minister, Giancarlo Giorgetti. He was actually describing a home-improvements assistance that has turned into the budgetary matching of King Kong: a monster cutting loose, wreaking havoc on the nation's seldom-robust public profiles. On April 9th Mr Giorgetti exposed that insurance claims of the aid, called the "superbonus", made in the 4 years that the program has been actually operating, in addition to insurance claims of one more that offsets the price of remodeling fau00e7ades, would eventually drain pipes the treasury of EUR219bn ($ 233bn). That is just about 10% of Italy's GDP in 2015. Exactly how in the world performed traits come to this aspect?