Will the super bonus really be abolished?

Speaking at the European Parliament’s plenary session in Strasbourg, Prime Minister Mario Draghi (again) criticized the superbonus and highlighted some negative aspects: “The cost of improving efficiency – he said – has more than tripled and the cost of investment to complete the restructuring they are tripled because it removes price negotiation. “. Despite this, the Prime Minister pointed out,” things are progressing in the Folketing, the government has done what it could and our minister is very good. “An important clarification to reassure those who fear that 110% bonus has hours counted.

On the other hand, this is not the first time that the Prime Minister has targeted incentives. A measure he said would have “created distortions” in the construction sector (“as an extraordinary increase in the prices of the components needed for renovations and energy efficiency”) and generated billions in fraud against the state.

Despite the confusion of Draghis and Economy Minister Franco, the parties eventually won the 110% bonus. First achievement of changing the norm for allocating credits requested by the executive, and then with the green light (in the aid decree) for extension until 30 September of the deadlines for obtaining 30% of the works for single-family homes home. The government, for its part, has managed to insert (in the latest budget law) a 110% stop on the bonus for villas from 2023 and a decalation mechanism for condominiums with the amount that will gradually decrease in the coming years.

For Draghi, the super bonus does not fall. However, it seems difficult that the measure can be canceled with a stroke of the pen before the legislature expires. Both because the political forces think very differently from the premiere, and because the next budget is approved a few months after the vote (and thus in the middle of the election campaign). The Prime Minister’s words (“things are going on in the Folketing, the government has done what it could”) certainly do not indicate the desire to go to the final showdown with the parties that support the majority.

On the contrary, the Prime Minister’s seems to be more of an acknowledgment: on the super bonus, things did not go as he hoped, but now the game is over, and in any case, Parliament will take a stand.

The problems with superbonus

One wonders, however, how right Draghi is, and how much reason are the political forces defending (more or less) the measure with the sword. The premiere talked about a “triple” efficiency cost, because the bonus “removes the price negotiation”. However, information that we have not been able to verify and from which the Prime Minister has not explained the source better.

However, the latest report from the Chamber of Deputies on “energy recovery and upgrading of the building stock: an estimate of the impact of incentive measures”, published in December last year, gives us some interesting data. Meanwhile, the cost of “incentive” construction investment, as might be expected, increased in 2021 and went from an average of 30 to 51.2 billion. It is then noted that “the works benefiting from Super Ecobonus have undergone constant and progressive growth from the start-up phase until now, not only in total amounts but also in intervention costs”.

In particular, the average costs per intervention for single-family units and independent property units “from 84,000 euros per intervention in the submitted declarations until March 2021 to 113,000 in the two-month period August-September, to fall to 108,000 euros per intervention in the declarations submitted to October 2021”.

In April 2022, the average investment to renovate a villa with a bonus of 110% according to ENEA data was approximately 112 thousand euros and 97,575 for functionally independent buildings.

Construction price-2

Rising commodity prices could have contributed to the increase in average costs per capita. intervention. According to Ance (National Association of Building Builders), the price of round steel for reinforced concrete has increased by +40% in the first two months of 2022, and so has the price of bitumen (data updated to March 24, 2022). To curb speculation (and fraud), it must be remembered that the government annually sets a ceiling on the cost of materials to take advantage of the bonuses, a ceiling that has recently been raised by 20% precisely to cope with the increases.

iron-2 increase

(Reed diagram)

Building bonuses and equity (which is not there)

But if one omits the “fraud factor”, the aspect that should be highlighted the most is probably the fairness of the superbonus and other incentives of this type. The Chamber of Deputies’ report highlights the fact that the building bonuses (we are not talking about 110% bonus in this case, but the speech can only be similar) have not “proportionally eased the taxpayers’ economic sectors”, but have instead assumed “a tax dimension of ‘anti -progressive ‘, which increasingly facilitates high incomes, both for the number of incentives used and for the amount of work “. The data on the tax returns for 2020 (and on the use of the 50% restructuring bonus) are eloquent: if less than 10,000 euros, the average benefit is 388 euros, for those earning more than 150,000 euros, it rises to 2,524, more than six times as well.

superbonus 3-2-2

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