Economy

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

.ONLY considering it "gives me a stomach pain", pointed out Italy's financing official, Giancarlo Giorgetti. He was describing a home-improvements assistance that has developed into the financial matching of Master Kong: a creature running amok, ruining the country's seldom-robust public profiles. On April 9th Mr Giorgetti exposed that claims of the aid, called the "superbonus", created in the 4 years that the program has been operating, together with insurance claims of another that offsets the price of restoring fau00e7ades, will at some point drain pipes the treasury of EUR219bn ($ 233bn). That is actually nearly 10% of Italy's GDP in 2015. Just how on earth did factors come to this factor?