Economy

How a home-improvement subsidy is actually wrecking Italy's public funds

.MERELY dealing with it "offers me a belly pain", said Italy's financial official, Giancarlo Giorgetti. He was referring to a home-improvements aid that has become the economic substitute of Master Kong: a beast cutting loose, ruining the nation's seldom-robust open profiles. On April 9th Mr Giorgetti uncovered that cases of the subsidy, referred to as the "superbonus", created in the 4 years that the program has been actually operating, in addition to cases of another that offsets the cost of renovating fau00e7ades, will ultimately drain pipes the treasury of EUR219bn ($ 233bn). That is almost 10% of Italy's GDP last year. Just how in the world performed factors reach this point?

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