The obligation to spread the Superbonus credits over 10 years has been announced by the Minister of Economy Giancarlo Giorgetti after participating in the Finance Commission of the Senate on the Superbonus decree. In response to questions about the possibility of spreading the credits over 10 years instead of 4-5, the minister stated that it will not be an option but a requirement. This measure will be included in an amendment to the decree that the Ministry of Economy is working on. The main effect of this change would be a positive impact on the public finances in terms of cash flow and debt reduction. Giorgetti emphasized that the government is taking responsibility for presenting its own amendment and that any parliamentary amendments seeking to expand exemptions will not be considered. Therefore, there will be no extension of exemptions for invoice discounts or credit assignments related to the superbonus.
Regarding the possibility of stopping the superbonus measure ahead of schedule, as recently suggested by Bankitalia, Giorgetti clarified, when asked by reporters after his intervention in the Commission, that such an indication would have been welcome if it had been given earlier, perhaps in 2021, 2022, or 2023. However, it only arrived in 2024 when the government was already taking steps to address the issue. The minister argued that it was impossible for the government to have intervened earlier to mitigate the effects of the superbonus. He highlighted the existence of acquired rights, constitutional principles, and the fact that those who started work in 2021 have the right to finish it in 2023 and submit invoices in 2023. It was evident that when the government began addressing the issue in October 2022, they were already facing a crisis that was difficult to control, likening the situation to the events of the Vajont disaster.
Giorgetti’s comments reflect the challenges faced by the government in managing the impacts of the superbonus program and the need to balance the interests of various stakeholders. By mandating the spreading of credits over 10 years, the government aims to optimize the fiscal benefits and reduce the burden on public finances. The decision to not expand exemptions for invoice discounts or credit assignments related to the superbonus illustrates a commitment to maintaining fiscal discipline and managing the program in a responsible manner. Despite criticisms and concerns raised by entities such as Bankitalia, the government underlines the importance of honoring existing commitments while working to address the unintended consequences of the superbonus program.
The minister’s analogy to the Vajont disaster serves as a poignant reminder of the challenges faced when trying to address crises that have already been set in motion. Just as efforts to prevent a landslide are more effective before it happens, managing the impact of large-scale programs such as the superbonus requires timely and proactive measures. The government’s insistence on honoring existing contracts while introducing measures to improve fiscal sustainability reflects a commitment to upholding legal and constitutional principles. By taking responsibility for presenting its own amendment to spread credits over 10 years, the government is demonstrating its willingness to address concerns raised by stakeholders while safeguarding the long-term financial stability of the country.
In conclusion, the decision to spread Superbonus credits over 10 years will have far-reaching implications for public finances and the overall economic landscape. By mandating this approach, the government is seeking to strike a balance between honoring existing commitments and managing the fiscal impact of the program. While criticisms and concerns have been raised, particularly regarding the timing of interventions and the potential for financial risks, the government’s decision reflects a pragmatic response to a complex situation. As efforts continue to address the challenges posed by the superbonus program, the government’s commitment to fiscal responsibility and legal integrity remains paramount. The implementation of the 10-year spread for credits will require careful monitoring and evaluation to ensure that it achieves its intended objectives while minimizing potential risks.
