Super bonuses and building bonuses will cost 30.8 billion until 2036

25/11/2021 – The building bonuses represent a charge of 30.8 billion euros until 2036. Among the deductions for the redevelopment of the building stock, the Superbonus is the measure destined to have greater financial effects. This was stated by the President of the Parliamentary Budget Office, Giuseppe Pisauro, who spoke before the Budget Committees of the Chamber and Sernato in a hearing on the budget bill for 2022.

Building bonuses, charges of 30.8 billion up to 2036

As regards the Superbonus, Pisauro stated that the methodologies used by the Government to assess the economic impact of the major incentives on spending decisions, and therefore on the actual cost of the measure, are similar to those previously used for the eco-bonus. Given that the deductions have different characteristics, he believes that a picture of uncertainty is created.

For this reason he analyzed the data provided by Enea on the effective use of the measure: as at 31 October, energy efficiency measures have led to investments for over € 9.7 billion, which correspond to future subsidies for approximately € 10.7 billion.

Taking as a reference the investment trend recorded by Enea, making an estimate of the additional investments that will be started in the period of validity of the subsidy and adding the investments stimulated by the other bonuses, it comes to estimate charges equal to 30.8 billion euros up to to 2036, of which approximately 84% concentrated in the years 2024-29.

Superbonus, the progress of the interventions

From the data released by Enea it emerges that the Superbonus attracts single-family buildings, in some cases they like it more than the eco-bonus, but it also risks creating distorting effects.

The sworn interventions concerned a relatively limited number of real estate units: approximately 57,700, of which 8,356 condominiums, which make up 0.7% of the total number of buildings with more than four dwellings. The average cost per intervention is however high and equal to about 169 thousand euros per building: 573,600 euros for condominiums and 100 thousand euros for other buildings.

Superbonus, the comparison with the eco-bonus and the trend on a local basis

In his speech, Pisauro underlined that the eco-bonus, compared to the Superbonus, involved a much larger number of interventions of a lower amount (about 395 thousand, for an average unit cost of about 8,800 euros).

Pisauro also focused on the different territorial distribution of the Superbonus and the eco-bonus. The ratio between the subsidized annual expenditure with the Superbonus and the subsidized one with the eco-bonus in 2019 is higher in the South than in the Center and in the North. Pisauro cited some examples: in Calabria the subsidized spending on an annual basis with the Superbonus is more than 10 times that subsidized in the past with the eco-bonus, in Campania and Sicily more than 6 times, in Lazio 3 times and in Lombardy 1.2 times . In Piedmont, Liguria and Valle d’Aosta, the average annual expenditure facilitated with the Superbonus was lower than that facilitated with the eco-bonus.

Super bonus, success and risk of distorting effects

Pisauro stated that the success of the Superbonus is due to the large size of the deduction and the possibility of choosing the discount on the invoice and the transfer of credit. In his opinion, these are factors that have allowed access to the measure for subjects with relatively lower income and liquidity problems.

The Superbonus, however, may have also generated distorting effects. From the data of Enea, Pisauro points out, emerges that the average expenditure by sector has increased from month to month. This could be due to two causes: on the one hand, interventions of increasing complexity may have been certified and, on the other hand, there may have been a general increase in the costs of interventions.

Pisauro notes that the growing demand of energy redevelopment services may have contributed to the emergence of price tensions subsidized services and raw materials. Signals confirmed by sector operators and by Istat surveys on prices (even if in areas not perfectly superimposed on that of subsidized interventions). From the latter, there is evidence of an overheating of prices in the construction sector, with the construction costs of buildings increasing from July 2020 respectively by 12% for industrial buildings and 5% for residential buildings, while on the side of consumer prices significant increases were recorded (+1.3 per cent from July 2020 to October 2021, approximately half the growth of the general index).

Looking ahead, says Pisauro, the higher prices could, on the one hand, further push expenses towards the ceilings, helping to increase the overall cost for the tax authorities and, on the other hand, in the case of interventions for an amount already close to the ceiling. , reduce the extent of the interventions subject to facilitation.

Furthermore, according to Pisauro, the disappearance of the conflict of interests between suppliers and buyers, as a result of the complete cost coverage on the part of the incentive, it could have influenced the agreed prices on the admitted works and increased the overall burden of the measure.

The generosity of the incentive measure and the transferability of the tax credit to third parties, he concludes, favored the spread of fraudulent behavior. In this regard, the Revenue Agency has intercepted various frauds referring above all to the transfer of non-existent credits relating to building interventions not carried out, reporting the identification of approximately 800 million credits of which it would be “almost certain to be non-existent”.

Source: Le ultime news dal mondo dell'edilizia by

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