As of: March 29, 2024, 5:08 a.m
By: Philipp Bräuner
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The controversial super bonus has now finally been stopped by the Italian government. It has probably already cost the state 114 billion euros.
Rome - It has been a thorn in the side of Giorgia Meloni and her government for a long time, now it has been completely withdrawn: the so-called super bonus. In the Council of Ministers, Italy's Finance Minister Giancarlo Giorgetti recently presented an emergency decree that reduces the last remnants of the controversial tax breaks for structural renovation work, as the newspaper
la Reppublica
reports.
Meloni government stops controversial super bonus in Italy
The program for 110 percent tax refunds for energy-related renovations, also known as “Superbonus 110,” was introduced in 2020 by then Prime Minister Giuseppe Conte. Since then, homeowners have been able to insulate their facades, insulate roofs and modernize heating systems to heat pumps.
After her government had already largely reduced the controversial super bonus, the emergency brake was finally pulled in the Council of Ministers. © Cecilia Fabiano/dpa
Anyone who could then prove an improvement in at least two energy classes received not 100, but 110 percent of their taxes back - i.e. 10 percent as a gift from the state. The aim at the time was to boost the construction industry and thus the economy during and after the corona pandemic.
This calculation obviously worked for economic growth - and still does. There is talk of a real growth miracle for Italy's economy in 2024. Also because of the good situation for the construction industry so far thanks to the super bonus.
Superbonus has already cost Italy 114 billion euros
However, the super bonus has long since become a full-blown burden on the Italian state budget. It cost 114 billion euros by the end of February; according to
SRF
, experts estimate it will ultimately cost up to 150 billion euros. The super bonus has had a “serious impact on public finances,” Italian Finance Minister Giogetti told the newspaper
la Nazione
.
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For this reason, funding was severely restricted at the end of 2023. With his emergency decree, Finance Minister Giorgetti has now also stopped the transitional and exceptional regulations. (
pkb
)