The Upb data explain how little the Superbonus has affected growth

The Parliamentary Budget Office confirmed that the measure’s contribution to GDP was, in fact, only one percentage point. 20 billion against an investment of over 50: a lesson for grillina rhetoric

Other than multiplier. Even the ultra-expansionist theory on the Superbonus, according to which the measure would have unequivocally had a strong positive impact on growth, is a little less. To refute it is the Parliamentary Budget Office, which during a hearing in the Chamber yesterday highlighted the macroeconomic data ascertained on the Superbonus. Well, “the contribution of investments in residential construction to the growth of GDP in the last two years was two percentage points”, writes the Upb. But beware: “It is possible to reconstruct – continues the note – that half of the contribution would be attributable to the positive shock generated by the tax incentive, ie the additional investment in housing compared to what would have been made in any case”. In short, out of two points of GDP growth guaranteed by the real estate economy, only one is attributable to the stimulus of the Superbonus. They do, roughly, 20 billion. However, in the face of a mass of investments already completed which, in February 2023, amounted to 53.2 billion. Investments made not for free, of course: it is public spending.