Economy

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

.SIMPLY dealing with it "gives me a tummy pains", pointed out Italy's finance official, Giancarlo Giorgetti. He was referring to a home-improvements assistance that has turned into the budgetary equivalent of King Kong: a monster running amok, wreaking havoc on the nation's seldom-robust open profiles. On April 9th Mr Giorgetti exposed that insurance claims of the assistance, known as the "superbonus", made in the four years that the plan has been running, along with claims of another that offsets the expense of refurbishing fau00e7ades, would eventually drain pipes the treasury of EUR219bn ($ 233bn). That is practically 10% of Italy's GDP in 2014. Just how on earth carried out things get to this factor?