Economy

How a home-improvement aid is actually ravaging Italy's public funds

.SIMPLY dealing with it "gives me a tummy pain", said Italy's finance administrator, Giancarlo Giorgetti. He was actually describing a home-improvements subsidy that has turned into the economic matching of King Kong: a monster running riot, damaging the nation's seldom-robust open accounts. On April 9th Mr Giorgetti revealed that insurance claims of the aid, known as the "superbonus", made in the four years that the plan has been actually managing, together with cases of yet another that offsets the price of remodeling fau00e7ades, would eventually empty the treasury of EUR219bn ($ 233bn). That is virtually 10% of Italy's GDP last year. Exactly how in the world carried out traits reach this factor?

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