How Italy’s generous green homes scheme turned ‘wicked’

Prime Minister Giorgia Meloni, whose coalition government took office in October, said last weekend the situation was “out of control”.

He warned Italy’s deficit could be revised up substantially, while both the construction sector and the government “could have liquidity problems”. Angelica Donati, the president of national constructors’ association ANCE, told AFP the bonus had been “fundamental in the aftermath of Covid-19, both for reviving the Italian economy as well as restarting the construction industry”.But the scheme generated much more work than originally forecast and banks stopped buying credits last year, leaving some construction companies in the lurch.

Then last week it put a sudden stop to the use of the tax credits as it tries to work out how to unfreeze existing credits for an estimated 19 billion euros’ worth of work that has been carried out but not yet paid for.Superbonus users can now only receive money back from the state via tax breaks — but that mostly benefits those on higher incomes.The government is looking into possible alternatives to the credit system. Climate campaigners hope it will also change the bonus’ scope.

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