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Italy will act to fix "superbonus" refurbishment scheme - Reuters

Feb 18, 2022 1:10AM

Italy's Minister for Economic Development Giancarlo Giorgetti attends a debate at the Senate ahead of a confidence vote for the government, in Rome, Italy, February 17, 2021. Andrew Medichini/Pool via REUTERS

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ROME, Feb 17 (Reuters) - Italy's government will bring forward urgent measures to remedy problems with subsidies offered for energy efficiency and anti-earthquake work on buildings, Industry Minister Giancarlo Giorgetti said on Thursday.

Under a scheme introduced in 2020 the Italian government pays 110% of the cost of work on green measures such as insulation, solar panels and replacing old-fashioned boilers.

The scheme has proved hugely popular but concerns over potential fraud have seen a brake put on the distribution of funds, hurting the building trade, and raising concerns about the impact on banks that have lent money for such projects.

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"I believe that this problem, which has created a blockage and a lot of tension for the sector, will be remedied very soon with urgent measures," Giorgetti told a parliamentary hearing.

He did not give details on the changes he would make.

Prime Minister Mario Draghi said in his end-of-year speech that the Italian tax authority discovered 4 billion euros ($4.6 billion) of suspicious transactions around the incentive scheme.

($1 = 0.8796 euros)

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Reporting by Andrea Mandala Editing by Keith Weir

Our Standards: The Thomson Reuters Trust Principles.

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