Global Economy

The Danni Fiscali del Superbonus Are Still Hitting Italy Hard

April 23, 2026

The danni fiscali del Superbonus have ceased to remain a technical detail of budget documentation. In Italy, this topic demonstrates vividly how measures that claim to be beneficial for the economy can continue to drain the country’s finances years after being implemented. Where at first sight there was a proactive attempt to promote building renovations and economic development, in reality there is now a persistent burden that does not leave the budget of the state.

Not surprisingly, Italian media outlets are actively following this issue. For example, RaiNews reported this week that the effects of the Superbonus still weigh on public finances for about €40 billion this year and €20 billion next year. Clearly, there is no question here. The fiscal problems caused by this program remain significant enough to influence future decisions on taxation, spending, and debt in Italy.

The Giant Debt That Still Hasn’t Left the Table

The crucial aspect of the ongoing controversy about the Superbonus measure is that it politically passed but remained fiscally relevant. This is clear from statements made by Finance Minister Giancarlo Giorgetti, who claimed that the current figures regarding debt would look significantly different if not for the remaining effect of this program. According to ANSA, the government officially claims the same. It states that without the negative effects of this program, the situation with the budget and debt would allow Italy to reduce its deficit below the EU threshold.

The significance of this aspect can be illustrated by the fact that Italy is currently operating under tight financial restrictions. As mentioned by RaiNews, according to the latest fiscal framework adopted by the government, the deficit will be 2.9% and 2.8% of GDP in 2026 and 2027, respectively. At the same time, the public debt will reach around 138% of GDP in those same years and only gradually decrease afterward. The situation thus reveals why this topic is becoming so important for the country.

The reason is simple. The current discussion about the Superbonus is not about whether the measure contributed to construction. Instead, it is about what it continues to hinder.

The Main Cost Comes From Missed Opportunities

And here is why the issue raises such serious concerns. As noted by RaiNews, Prime Minister Giorgia Meloni stated that the current costs of the program prevented Italy from exiting the excessive deficit procedure imposed by the EU and made additional spending on public health care, schools, and support for lower incomes impossible. This statement is quite tough to digest, but the message is obvious. The peso del Superbonus sui conti pubblici is not only a fiscal problem. Moreover, it implies that Italy is losing numerous opportunities because of the program.

The point is that the government can accept the expenses from certain projects more easily when economic conditions are good. However, this luxury is not available for the state now, as growth is expected to slow, energy issues are returning, and expenditure priorities have changed. That is why Italy, facing the legacy of this project, cannot operate freely.

The significance of these constraints should not be underestimated, as the government cannot make any promises related to tax reduction, industrial assistance, public services, or defense without considering the legacy expenses.

Italy Still Pays for the Measures That Spiraled Out of Control

According to several documents published on Italian institutions’ websites, it had been clear for quite some time that the fiscal costs of the Superbonus became extremely high. For instance, according to a Ministry of Economy and Finance page dated 2025, the costs related to this program grew to around €20 billion in 2024 compared to €13.2 billion in 2022. Another MEF document also emphasized that the program has already cost public finances more than €120 billion. These figures demonstrate why the issue remains topical. It was not only a costly project, but a fiscal event.

That is why the current discussion in the country has more teeth than mere criticism of excessive expenses. The problem is not just the high costs. It is that they are not sustainable and that the measures related to the project created an excessive burden for future budgets.

The essence of the issue can be revealed by a single phrase in recent reporting: “without the residual effects of the Superbonus, the trend of the debt would descend more clearly.” Unfortunately, this statement reveals why Italy has to pay not only for current spending, but also for past mistakes.

Why This Issue Is So Vital for Italy’s Future

The problem of danni fiscali del Superbonus has turned into a problem of trust. Italy must prove to the European Union and to investors that it can effectively manage its debts, cover expenses in key sectors, and react to any shocks without ignoring the legacy cost. Therefore, this issue has turned into a case study that shows what may happen if a government fails to control its projects.

There is a temptation to consider the current discussion as a purely national issue that should be ignored. However, that would be a huge mistake. In Italy, the issue of the Superbonus is still an integral part of talks about schools, hospitals, social security, fuel prices, and negotiations with the EU regarding Italy’s finances. That is why foreign investors should also follow developments closely.

Finally, the conclusion about this program cannot be anything other than critical. This measure was not only expensive, but also harmful to the finances of Italy. Now the country has to plan its expenditures around these measures, despite the fact that they have already been implemented.

It is no longer just an old policy mistake.

It is an active fiscal problem.