Economy

How a home-improvement subsidy is actually ravaging Italy's social funds

.MERELY dealing with it "gives me a stomach pain", stated Italy's money official, Giancarlo Giorgetti. He was pertaining to a home-improvements aid that has become the economic equivalent of Master Kong: a monster running riot, ruining the nation's seldom-robust public accounts. On April 9th Mr Giorgetti exposed that cases of the assistance, called the "superbonus", created in the four years that the program has been running, together with cases of another that offsets the cost of renovating fau00e7ades, would at some point drain the treasury of EUR219bn ($ 233bn). That is almost 10% of Italy's GDP in 2013. Exactly how in the world carried out factors reach this aspect?

Articles You Can Be Interested In