Superbonus rewards cheaters. This is what the council’s vice president, Antonio Tajani, said. Super bonuses and building bonuses have had a devastating impact on public debt. Economy Minister Giancarlo Giorgetti repeated this several times. And we will feel the impact for years to come: what economists describe as the greatest public finance frenzy ever Riccardo Trezzi.

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Let’s make some calculations, thanks to the data disclosed in the predictions of Today.it by Cesare Treccarichi. As of April 9, 2024, when the Government’s Economic and Financial Document was presented, the amount of accumulated construction loans currently amounts to 219 billion euros. But this is a temporary figure. Spending has increased by over 40 billion in the last four months. From February to March alone, the amount paid by the government increased by a record 7.8 billion. It is the effect of transactions that are gradually being recognized and that have become or will become public debt in all respects. It is difficult for us mere mortals to imagine what two hundred nineteen billion is. Let’s put it this way: This means that every Italian family, totaling 25 million, including young people and single retirees, today has a new debt of 8,760 euros. Even though he neither asked nor received anything from the state.

More than 160 billion was wasted on the fronts

Frontline Superbonuses alone, which include the possibility of reimbursement from the State of 110 percent of the cost of the works, have so far reached 160.3 billion euros: this means a new debt of 6,412 euros for each family. This means no longer having money to lower taxes, support other sectors of the economy outside of construction, fund scientific and technological research, reduce waiting lists in hospitals, and make healthcare efficient again. If we really wanted to support the Italian economy during the last epidemic, the same money could be used for the modernization of public offices and transport, the digitalization of public administration and the renovation of school buildings, as hundreds of students noted. The disintegration continues in Milan a few days ago (in the photo below, the protest of Milanese high school students in front of the Pascal institute in Città Studi).

Giuseppe Conte’s second government, formed by Articolo Uno, the mini-party founded by Movimento5Stelle, Pd and Massimo D’Alema, opted instead to allocate all aid to private individuals, without any income or income limits, with the re-establishment decree of 19 May 2020. use of property. Thus, from Courmayeur to Cortina d’Ampezzo, we saw the second and third holiday homes being renovated at state expense. Thanks to Superbonus, many apartments along the Conero Riviera in the Marche region now have heating. The boiler or heat pump was missing not because the owners were poor and destitute, but because these houses were only lived in during the summer months. However, we will all pay the price of the extra fifty thousand euros given to these owners for this and useless heating system stipulated by law.

We would heat all the first houses

Ministers in Conte’s government, including Economy Minister Roberto Gualtieri (photo below), the current mayor of Rome, should have foreseen that paying back 110 percent of the value of the intervention would have two disastrous effects on public finances. The first effect: to eliminate the responsibility of the clients of the works, namely property owners and condominium managers, regarding the control of expenses (the State reimburses this amount). Second: causing further inflation in material costs.

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A very simple example. Redoing the facade of a single-family house in Lombardy without thermal insulation just before the pandemic cost just over ten thousand euros, including labor and VAT. Between 2021 and 2022, 18 thousand euros without VAT were requested for the same house only for scaffolding rental.

For years, smaller percentages of construction premiums paid back as tax credits have had the value of unlocking some of the underground economy. But the Superbonus was a flood of funding worthy of the worst years of the First Republic. A comparison, so to speak. The largest photovoltaic park in the United States (we talked about it here) costs the equivalent of 1.6 billion euros and has the capacity to power 240 thousand homes. With the $160 billion that Italians will have to repay the Superbonus, the State could potentially finance 100 photovoltaic megaparks, like in America, capable of powering and perhaps heating 24 million homes with solar energy: almost all the first Italian homes. It is certainly a comparison that does not take into account practical issues. But it gives a good idea: if we invested the same amount in solar, we would be energy producers and all of Italy would benefit from this.

Thermal coatings that pose a fire risk

Instead, we literally gave this enormous resource under management to managers and building contractors and spread it on the facades of the houses of a small minority and got the following result: with 160 billion Super Bonus, just under 4 percent of residential buildings were renovated. and about 6 percent of apartment buildings. Among other things, the absence of a clause in the Conte government’s decree requiring the unanimity of the condominium council leaves thousands of property owners facing additional costs even if they voted against the project. The private debts of families devastated by the Superbonus are added to the public debt because they cannot cover the cost.

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This does not mean that all people, all managers and all companies who participate in Suberbonus do so to deceive the State. They legally used the (in our opinion, wrong) opportunities of a law supported by both the left and the right. Especially in the last election campaigns. But it is precisely the formulation of this law and the inadequacy of controls that have led, among other things, to culpable irregularities and actual frauds against the State in works that were never carried out: what has been discovered so far is a monstrous loan of 16 billion dollars (about 1.5 million TL) requested corresponds to the value. according to estimates it should be the cost of the bridge over the Strait of Messina). Not to mention the fact that most of the thermal coatings made are extremely flammable (see photo next to the title). In short, we have more efficient but perhaps less safe buildings, as Davide Luraschi, President of the Milan School of Engineers and Architects and professor of fire safety engineering at the Polytechnic School of Milan, confirmed to Today.it.

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It is precisely because of the gap between the poor quality of the results achieved and the huge resources used (a debt that will condition Italy for at least the next decade and beyond) that Parliament must take responsibility for explaining what happened and why. The rich must explain to the Italians the reasons for the many obvious forecast errors. And why was it decided to give such wide preference to the construction industry over other strategic sectors of our economy, which are most vulnerable to infiltration by mafia organizations and the use of irregular labor? The establishment of a commission of inquiry becomes necessary in the face of the serious consequences that we will all have to face from next autumn, after the smoke and lies of the ongoing election campaign have been cleared. If you agree, please sign the Today.it petition below on Change.org to ask the House and Senate to establish a commission of inquiry to investigate Superbonus scams.

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