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Giorgetti compares Superbonus to Vajont dam disaster

Giorgetti compares Superbonus to Vajont dam disaster

The flood had already started when we took power says minister

ROME, 08 May 2024, 11:03

ANSA English Desk



Economy Minister Giancarlo Giorgetti compared the Superbonus scheme for energy-efficiency building renovations to the 1963 Vajont dam disaster on Wednesday and stressed the current administration was not to blame for its spiraling cost.
    The Superbonus programme, introduced by a previous government headed by M5S leader Giuseppe Conte in 2020, covered 110% of the cost of certain renovations.
    It has cost the State many times more than initially forecast.
    As of 31 March, the total burden borne by the state for the Superbonus exceeded 122 billion euro, according to official data.
    The scheme has been significantly curtailed by the current government but the cost keeps growing.
    Among other things, the government ended the so-called 'invoice-discount' ('sconto in fatture') system under which people could use credits from the State to pay for the renovations.
    Instead, people can now be reimbursed via tax deductions spread over several years.
    "Thanks to the ancient Romans, who taught law to the world, we have acquired rights, we have the Constitution, we have the principle that if one started work in 2021, one has the right to finish it in 2023 and submit the invoice in 2023," Giorgetti said when asked him if he had any responsibility for the costs of the Superbonus.
    "It is clear that, when we fortunately intervened to put a dam in place, the flood had already started,' he added, referring to Vajont. A landslide above the Vajont dam on October 9, 1963, sent a huge wave of water over the crest, destroying the villages in the valley below.
    Officially 1,910 people died in the disaster, which had been preceded by largely ignored warnings of impending danger, although some estimates put the death as high as 2,500.
    Giorgetti added that tax deductions related to Superbonus will be spread over 10 years, rather than four at the moment.


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