Economy

How a home-improvement aid is ravaging Italy's social finances

.ONLY dealing with it "gives me a stomach ache", pointed out Italy's money minister, Giancarlo Giorgetti. He was pertaining to a home-improvements assistance that has turned into the financial substitute of King Kong: a creature running amok, wreaking havoc on the country's seldom-robust public accounts. On April 9th Mr Giorgetti revealed that claims of the assistance, referred to as the "superbonus", made in the 4 years that the scheme has been actually managing, together with cases of one more that offsets the cost of restoring fau00e7ades, will ultimately drain pipes the treasury of EUR219bn ($ 233bn). That is virtually 10% of Italy's GDP in 2013. Just how on earth carried out factors get to this factor?

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