Economy

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

.SIMPLY dealing with it "offers me a tummy soreness", stated Italy's money management administrator, Giancarlo Giorgetti. He was actually referring to a home-improvements assistance that has become the economic substitute of Master Kong: a creature cutting loose, damaging the nation's seldom-robust publicised accounts. On April 9th Mr Giorgetti exposed that cases of the aid, known as the "superbonus", made in the four years that the program has been actually running, alongside claims of one more that offsets the cost of remodeling fau00e7ades, will inevitably empty the treasury of EUR219bn ($ 233bn). That is virtually 10% of Italy's GDP in 2014. Just how in the world did traits reach this point?