Economy

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

.MERELY considering it "gives me a belly ache", pointed out Italy's financing official, Giancarlo Giorgetti. He was referring to a home-improvements aid that has become the fiscal substitute of Master Kong: a monster running amok, ruining the nation's seldom-robust publicised accounts. On April 9th Mr Giorgetti uncovered that claims of the assistance, known as the "superbonus", created in the four years that the scheme has actually been running, alongside claims of yet another that offsets the expense of remodeling fau00e7ades, will inevitably drain pipes the treasury of EUR219bn ($ 233bn). That is just about 10% of Italy's GDP last year. Exactly how in the world did points come to this point?