Economy

How a home-improvement subsidy is actually trashing Italy's social funds

.ONLY dealing with it "offers me a belly ache", claimed Italy's money management minister, Giancarlo Giorgetti. He was referring to a home-improvements aid that has actually become the financial equivalent of Master Kong: a monster running riot, wreaking havoc on the country's seldom-robust open profiles. On April 9th Mr Giorgetti uncovered that claims of the aid, called the "superbonus", made in the four years that the scheme has been actually operating, along with insurance claims of yet another that offsets the price of restoring fau00e7ades, would at some point drain the treasury of EUR219bn ($ 233bn). That is actually just about 10% of Italy's GDP last year. How on earth did things come to this aspect?