Superbonus, how much did it cost the State? Almost double the initial estimate -

Superbonus, how much did it cost the State?  Almost double the initial estimate -

The Superbonus cost the State almost double the initial estimate. The accounts were made by the director general of the Finance department of the Ministry of Economy, Giovanni Spalletta. During the hearing of the House Budget Committee, Spalletta specified that for the Superbonus, the initially forecast expenditure of 35 billion has gone to an updated estimate of 67.12 billion, while for the Façade Bonus, from a forecast expenditure of 5.9 billion to an effective one of 19 billion. Overall, the difference between the ex ante estimates and the ex post updated charges for the 2020-2035 time horizon amounts to 45.2 billion euro, of which 32 billion for the Superbonus. These estimates have already been incorporated in the forecasts of public finance trends contained in the Economic and Financial Document.

No changes to public debt

During the same hearing, the state accountant general, Biagio Mazzotta, explained that the Eurostat review of the classification criteria for Superbonus credits and the facade bonus did not make any changes to the expected public debt, the forecasts of borrowing and debt they have remained the same. The revision of the classification led to an advance of the time profile of the effects on net borrowing with respect to the cash recording, explained Mazzotta. The upward revision of the costs of the subsidies has led to a worsening of the estimates of the requirement and of the debt in the years in which the subsidy is used, particularly concentrated in the years 2023-2026, the state accountant further observed.

In April 74 billion of investments allowed for deduction

The latest data show that at the end of April the investments eligible for the Superbonus amounted to over 74 billion, but there was a clear slowdown compared to the previous period in both investments and completed works and the major brake came from the blocking of the discount on invoices and the sale of credit. A growing trend has been observed in Superbonus expenses, with a strong acceleration starting from 2021 both due to the overcoming of the pandemic crisis and due to the removal of some stakes that have allowed more significant access to the benefit. In addition to the transfer communications from the Revenue Agency, the MEF representatives recalled, Enea data shows that as of 30 April 2023, around 407,000 incentivized building interventions were underway, which correspond to 74.6 billion in investments eligible for deduction. These 74.6 billion correspond to an effective tax benefit of approximately 82 billion euros.

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