“Superbonus was an exaggeration, the government stoppage is right” – Corriere.it

The construction bonuses were an exaggeration, that there was a problem in the original provision was clear to everyone, admits Carlo Cottarelli, economist for twenty years at the International Monetary Fund and since last October elected to the Senate in Pd share.

Was the government right to intervene to stop bonuses?
Given that I speak in my name and not of the Democratic Party, given that by the way I am not registered, my answer is yes: the government has done well.

Why?
It was an exaggeration, clearly there was a need to support the construction sector and we will still have to intervene, taking into account that we have the problem of renovating our buildings. For a 110% bonus that could be used with the transfer, this is too generous and too expensive for the state. On my initiative, the Senate Finance Committee has launched a fact-finding investigation into the tax credits.

Did the survey provide initial evidence?
Not yet, premature and I prefer not to anticipate anything. It was clear to everyone that there was a problem in the original provision. The simple point.

What does it refer to?
When you allow for free work done at home, even in the case of high incomes, which makes a property more beautiful and the owner earns from it, it is clear that the demand for that type of incentive becomes too high. Then it is true that the issue was addressed by Draghi, but he did not decide everything, he had the 5 Star Movement, the Lega and Forza Italia exerting pressure to maintain the various bonuses with tax credits and the possibility of transfer. So much so that Draghi, while maintaining the bonuses, has defined them a mistake several times.

The other problem is that there are 15 billion in problem loans that companies still have to collect…
a problem that needs to be solved, in terms of size we understand Minister Giorgetti’s concern and the impact it would have on the public debt. The proposed solution would be to allow banks to use these tax credits for F24 related to the payment of other taxes. Naturally, if there are public finance problems, a series of limitations to the use of this solution can be imagined. Meanwhile, the Italian banking association and Federcasse have already said that this operation is fine for them.

Are there any workarounds?
I honestly don’t see any others.