.ONLY THINKING about it “offers me a stomach soreness”, stated Italy’s money minister, Giancarlo Giorgetti. He was actually describing a home-improvements aid that has actually developed into the economic equivalent of King Kong: a creature running riot, ruining the country’s seldom-robust public accounts. On April 9th Mr Giorgetti showed that claims of the assistance, referred to as the “superbonus”, created in the four years that the program has been managing, together with claims of yet another that offsets the expense of restoring fau00e7ades, will ultimately drain the treasury of EUR219bn ($ 233bn).
That is nearly 10% of Italy’s GDP last year. Just how on earth carried out factors get to this factor?