The government's economic document arrives. Giorgetti: there will be no corrective manoeuvre
As of 31 March, total investments for Superbonus eligible for deduction exceeded 117 billion, while total investments for completed works eligible for deduction reached 111.64 billion. Giorgetti: in line with Nadef targets for credibility
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Key points
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The final, hefty bill of the Superbonus. And the government's final estimates on debt, deficit and GDP. These are the unknowns that will have to be clarified on Tuesday, 9 April, when the Council of Ministers will approve the Def, the Economic and Financial Document that contains the government's economic policy indications and macroeconomic framework. The economy minister, Giancarlo Giorgetti , has already called the Def 'dry'. 'No corrective manoeuvre,' the Minister of the Economy also replied, speaking on the sidelines of an event in Trieste, when asked whether, given the difficulties related to the Superbonus, there will be a need for a corrective manoeuvre, 'No. Certainly we want to respect exactly the objectives of last autumn's Nadef,' the minister said, 'for a question of credibility: if there is something to correct we will correct it, but basically we are in line.
The Superbonus Account
.As of 31 March, the total burden on the State for the superbonus exceeds 122 billion. This is what emerges from Enea's monthly data: the deductions accrued for completed works amount to 122.24 billion. The total amount of investments for the Superbonus eligible for deduction exceeds 117 billion, while the total amount of investments for completed works eligible for deduction reaches 111.64 billion.
Today, the Inland Revenue Agency will provide the Ministry of Economy with the last communications collected up to 4 April on invoice discounts and assignments of building bonus credits for 2023 expenses and unused residual instalments of deductions referring to 2020, 2021 and 2022 expenses.
Giorgetti: in line with Nadef target for credibility
"The Superbonus season ends with a very heavy legacy for the public accounts and therefore for all Italians. This is the reality and therefore in the coming years we will have to take on the burden of paying this debt that has been made,' he said. Giorgetti said this in response to a question on the Def and the weight of the Superbonus, on the sidelines of Selecting Italy. On the need for a corrective manoeuvre, the minister said he wanted to 'respect exactly the objectives of the Nadef presented in the autumn for a question of credibility. If there is something to correct we will correct it, but basically we are in line'.
Macro estimates
.In the Nadef (Update Note to the Def) this year's net borrowing was set at 4.3% of GDP and the debt at 140.1%. The government would be inclined to keep in line with those estimates as much as possible and, if so, would only present the tendential framework in the Def. For 2024, the debt ceiling is still hovering around 140% of GDP. If, however, once the concrete burden on the treasury of building deductions is known, the numbers should deviate much from those of September, the tendential framework could also be added to the programme framework. The latest counts on bonuses are those provided by the Undersecretary for the Economy, Federico Freni: over 210 billion. A monstrous figure that exceeds that of the NRP and which is also impressive in light of the recent alarm raised by scientists on the backwardness of public health due to lack of funds.
